Quarterly guidance

Quarterly guidance
No quarterly guidance was given.

Annual guidance

Base business sales
$30.7 billion to $31 billion
Total product sales
$31 billion to $31.3 billion
Veklury sales
$300 million
Acquired IP R&D
$12.9 billion
Non-GAAP EPS
$8.75 to $9.10 (excluding specific items)

Outlook

HIV Treatment
The company expects to grow total HIV revenue in 2028 despite the Biktarvy pricing impact.
Inflammation
Management views inflammation as a significant new growth area with 13 clinical programs currently in development.
Cell Therapy
Gilead is targeting brand leadership in the fourth-line plus multiple myeloma setting within 18 months of Anetocell approval.
Inventory
Q4 inventory build is expected to be smaller than historical norms due to a larger-than-typical build in Q3.
Policy
The company plans to work to mitigate the $1.5 billion Biktarvy revenue impact over the next year.