Gilead Sciences has shifted from stagnant growth to a turnaround led by new HIV and oncology drugs, with the stock up more than 12% this year. The company reported second-quarter sales of $7.8 billion, up 10% year over year, including HIV-related sales of $5.7 billion, up 12% year over year. PrEP sales exceeded $1 billion for the first time, led by $801 million in Descovy sales, up 60% from the same quarter a year ago. Oncology revenue is growing, with Trodelvy sales of $457 million, up 26% year over year, and the company expects to launch anito-cel for multiple myeloma after its December 23 PDUFA date. Gilead raised its quarterly dividend by 3.8% to $0.82, the 11th consecutive annual increase, and is on track to exceed $12 billion in free cash flow this year.
Gilead Sciences IncHIV and oncology drug sales growth drive turnaround
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