Gilead’s $3B Oncology Milestone: Trodelvy, Tecartus and Yescarta Lead the Way in 2023

Gilead Targets $3B in Oncology Revenue with 3 Key Drugs

Gilead Sciences has been making significant strides in the oncology space, fueled by the success of its rising star drug, Trodelvy, and its cell therapy offerings. In the second quarter, the company’s oncology portfolio recorded a remarkable 38% increase, contributing $728 million to its overall revenue of $6.6 billion.

Trodelvy, a breast cancer medication, experienced an impressive 63% year-over-year sales jump, bringing in $260 million. Additionally, Gilead’s cell therapies Yescarta and Tecartus saw sales increases of 29% and 21%, respectively, with quarterly revenues reaching $380 million and $88 million.

To achieve its ambitious goal of generating one-third of its revenue from oncology by 2030, Gilead is relying on these promising drugs, which are projected to generate $3 billion in sales this year. However, analysts caution that the company may encounter some growing pains as sales increase, along with the need for greater manufacturing capacity.

The acquisition of Immunomedics in 2020, which brought Trodelvy into Gilead’s portfolio for $21 billion, was a strategic move that served as an anchor for building the company’s oncology business. Moving forward, Gilead plans to focus on partnerships rather than large-scale acquisitions.

In terms of overall performance, Gilead’s revenue grew by 5% year-over-year, with a 7% rise to $6.6 billion when excluding Veklury (COVID-19 drug) sales. Based on its strong first-half performance in 2023, the company raised its full-year revenue guidance to a range of $26.3 billion to $26.7 billion.

Meanwhile, Gilead’s HIV drug Biktarvy is expected to lead its infectious disease franchise, with estimated growth of 12.4% from 2023 to 2029, according to a GlobalData report. Biktarvy, which contributed $3 billion in sales during the most recent quarter, is projected to be a major growth driver in the infectious disease market, alongside Pfizer and GSK.

As Gilead continues to focus on its thriving oncology and infectious disease segments, the company’s strategic moves and successful drug developments position it well for future growth and industry leadership.

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