Gilead Sciences has reached a significant commercial milestone, with its HIV prevention franchise surpassing $1 billion in quarterly sales for the very first time.
The breakthrough was driven by strong performance from both Yeztugo, the company’s twice-yearly injectable PrEP option, and its established daily pill Descovy, which posted remarkable year-over-year growth.
Gilead’s twice-yearly HIV prevention shot Yeztugo generated $232 million in second-quarter sales, topping Wall Street estimates of $221 million and rising 40% sequentially from the prior quarter.
Descovy PrEP sales came in at approximately $801 million, up 60% year over year, pushing the total PrEP business to a run rate of roughly $4 billion annually.
Analysts at Mizuho Securities noted that taken together, Gilead’s quarterly PrEP sales crossed the $1 billion threshold for the first time, moving the pharma closer to blockbuster status for Yeztugo in the drug’s first full year on the market.
A key debate among investors has centred on patient persistency, meaning how many patients return for their second Yeztugo injection after receiving the first dose.
Gilead reported a persistency rate of over 70%, with Chief Commercial and Corporate Affairs Officer Johanna Mercier describing it as a “high level of persistency” and noting the rate is “well above available PrEP options.”
To further support adherence, the company recently launched a patient-support programme called “Ready to Go,” developed with input from PrEP consumers and featuring SMS reminders, educational resources, and a nurse call centre.
Bank of America said the strong persistency number supports what it sees as a large commercial opportunity for Yeztugo, easing investor concerns about long-term uptake of the injectable treatment.
Analysts at Truist Securities wrote in a note: “We view the quarter as another reminder of the durability of GILD’s HIV franchise and its ability to continue delivering growth.”
That durability was further underscored by Biktarvy, Gilead’s daily HIV treatment pill, which jumped 7% year-on-year to reach $3.8 billion in worldwide sales during the quarter.
Gilead now expects overall HIV sales growth of between 9% and 10% in 2026, raised from a prior estimate of 8%, reflecting growing confidence in the franchise’s trajectory.
Analysts also pressed management on whether a weekly oral lenacapavir PrEP option, which faces an FDA decision expected by February 2027, could cannibalise the injectable franchise.
Mercier argued the weekly oral product targets daily pill users who prefer less frequent dosing but are not yet ready for injections, and is expected to expand the overall PrEP market rather than displace Yeztugo.
Gilead continues to project approximately $1 billion in full-year Yeztugo sales, with the drug increasingly positioned as a cornerstone of the company’s long-term revenue growth story.