Gilead (GILD) Q3 FY25 earnings call

Gilead delivered a strong Q3 FY25, driven by robust performance in its HIV franchise and Livdelzi, leading to an increased full-year HIV revenue growth outlook despite Medicare Part D redesign headwinds. The company is making significant pipeline progress across HIV, oncology, and liver disease, with key regulatory filings and clinical readouts expected, while navigating competitive pressures in cell therapy. Management emphasized disciplined expense management and a strong position with no major patent expiries until 2036.