Gilead Raises 2026 Product Sales Forecast as HIV Revenue Grows 18%

Gilead Sciences raised its forecast for full-year 2026 product sales on October 29 after reporting a 13% increase in third-quarter product revenue, supported by demand for its HIV treatments and prevention medicines.

The US pharmaceutical company reported approximately $8.3 billion in product sales for the quarter. Sales from its HIV portfolio increased 18% to $6.2 billion. Biktarvy, its largest HIV treatment, generated $4.1 billion, up 10% from a year earlier. Gilead attributed the broader increase to demand for prevention drugs, pricing and inventory effects, factors that may not recur at the same pace in every quarter.

Gilead now expects full-year product sales of $31 billion to $31.3 billion, compared with its earlier forecast of $30.1 billion to $30.4 billion. That guidance is a management projection, not revenue already earned. The company reported adjusted earnings of $2.55 per share for the quarter, while earnings under generally accepted accounting principles were $1.94 per share; the measures reflect different accounting treatments.

The company also widened its forecast full-year adjusted loss per share to between $0.85 and $1.20, reflecting substantial charges associated with acquisitions and research programmes. This means the higher sales outlook does not necessarily translate into an improved full-year earnings forecast. Beyond HIV, Gilead reported higher sales for its liver-disease and Trodelvy cancer-treatment portfolios, while cell-therapy revenue declined amid competition.

The results illustrate the continued importance of established HIV products to Gilead's revenue while it invests in a broader pipeline. Future sales and earnings remain subject to demand, product competition, development costs and regulatory decisions.