Gilead hikes 2026 sales outlook; Medicare cuts Biktarvy price by 38% starting in 2028
GILD•Gilead raised its 2026 product sales outlook to $31 billion-$31.3 billion and reported third-quarter adjusted EPS of $2.55 on $8.3 billion in revenue. Medicare will cut the price it pays for Biktarvy by 38% starting January 1, 2028, reducing the drug’s 2028 sales by about $1.5 billion, the company said.
1. Sales outlook raised
Gilead Sciences raised its 2026 product sales outlook to $31 billion-$31.3 billion, from $30.1 billion-$30.4 billion. The company reported third-quarter adjusted earnings of $2.55 per share on revenue of $8.3 billion, compared with analyst estimates of $2.19 per share and $7.8 billion in revenue.
2. Biktarvy price reduction
Gilead said the Centers for Medicare & Medicaid Services will reduce by 38% the price it pays for Biktarvy starting January 1, 2028. The new maximum fair price will be $2,600 for a 30-day supply and is expected to reduce Biktarvy sales in 2028 by about $1.5 billion, Chief Financial Officer Andrew Dickinson said. Biktarvy sales rose 10% to $4.1 billion in the quarter.
3. Other quarterly results
Overall HIV sales rose 18% to $6.2 billion, and liver disease portfolio sales increased 13% to $927 million. Cell therapy sales fell 18% to $355 million, while Trodelvy sales rose 42% to $506 million. Gilead increased its estimated 2026 adjusted loss per share to $0.85-$1.20, citing $12.4 billion in deal-related charges.
