Gilead Sciences has secured its third FDA approval in under four months, with the latest being Bixlenvo, a daily pill for virologically suppressed adults with HIV, approved on August 27. The company's shares have risen over 21% this year, nearly doubling the S&P 500's gain, yet it may still be undervalued. More approvals are anticipated, including anito-cel for multiple myeloma with a PDUFA date of December 23, and Yeztugo, a once-weekly oral PrEP, with a target date of February 2. Financially, Gilead reported $7.6 billion in Q2 revenue, up 8% year over year, and raised its dividend by 3.8% to $0.82 per share. For the first time in Q2, the company topped $1 billion in PrEP sales, up 101% year over year, driven by Descovy's $801 million in sales, a 60% increase. Despite concerns about HIV reliance, Gilead's gross margins remain above 80%, and its pipeline positions it for long-term growth.
Gilead Sciences IncFDA approval of Bixlenvo and upcoming approvals strengthen Gilead's pipeline and growth prospects.
GSK plc
NVIDIA Corporation