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Sentiment · FY2026 Q1
What companies say about each other on earnings calls — extracted verbatim from public transcripts. Mentions from the newest quarter are a Pro feature.
“This is the first two-drug regimen without an HIV integration strand transfer inhibitor to demonstrate non-inferior efficacy and safety versus the broadly used three-drug insti-based regimen Biktarvy.”
Merck positions its two-drug HIV regimen as non-inferior to Gilead's flagship Biktarvy, a competitive read-through on Gilead's leading HIV franchise.
“evaluating izlotrovir and lenacapavir as a once-weekly oral two-drug treatment regimen in collaboration with Gilead.”
Merck is partnering with Gilead on a once-weekly oral HIV regimen combining islatravir with Gilead's lenacapavir.
“the investigation of once-weekly oral combination of islatravir with lenacapavir for adults with virologically suppressed HIV-1 infection, in collaboration with Gilead.”
Merck's once-weekly oral HIV regimen combines its islatravir with Gilead's lenacapavir under a collaboration, a read-through on Gilead's HIV franchise.
“demonstrate comparable efficacy and safety to the three-drug insti-based regimen Biktarvy.”
Merck compared its investigational two-drug HIV combination (doravirine/islatravir) against Gilead's three-drug Biktarvy regimen in Phase 3 trials, positioning its candidate as a comparable simplified alternative to the market-leading HIV therapy.
“This includes ongoing Phase 3 trials in combination with Gilead’s capsid inhibitor, lenacapavir, as a once-weekly oral treatment option.”
Merck's islatravir HIV program includes ongoing Phase 3 trials combining it with Gilead's capsid inhibitor lenacapavir as a once-weekly oral option.
“we expanded our partnership with Gilead Sciences. Our collaboration with -- will engage our expertise in machine learning and Gen AI with an agentic framework to improve productivity and generate cost savings. Our new agreement accelerates Gilead's digital transformation”
Cognizant expanded its partnership with Gilead Sciences, applying machine learning, generative AI and agentic frameworks to accelerate Gilead's digital transformation and generate cost savings.
“including $300 million relating to the Interius acquisition.”
Gilead is acquiring Interius (in vivo cell therapy), a $300M Q4 IPR&D commitment strengthening Kite's in vivo platform.
“We have also entered into a new research and licensing collaboration with Pregene Biopharma.”
Gilead entered a research and licensing collaboration with Pregene Biopharma in the in vivo cell therapy space, with a $120M upfront payment.
| Analyst | Firm | Questions (Challenge)Percentage of questions scored as challenging — where the analyst pushed back, pressed for specifics, or questioned management's assumptions. |
|---|---|---|
| Geoff Meacham | Citigroup | 6 (0%) |
| Tyler Buren | TD Cowen | 6 (0%) |
| Terence Flynn | Morgan Stanley |
“Together with our partner, Arcellx, we plan to share additional follow-up data from the pivotal iMMagine-1 trial of anito-cel at an upcoming medical meeting.”
Arcellx is Gilead's development partner on anito-cel, a BCMA CAR-T for multiple myeloma Gilead says shows best-in-class potential and targets a 2026 launch.
“our discussions with the remaining 25% of payers, including CVS, are ongoing, and we're very confident about our ability to reach the goals that we've set forth”
CVS is among the remaining payers that have not yet covered Yeztugo; Gilead says coverage discussions are ongoing.
“This includes coverage by UnitedHealthcare and Express Scripts as well as 20 of the top 25 state Medicaid plans.”
Express Scripts is named as a PBM/payer that has added coverage for Yeztugo, part of Gilead reaching its 75% access goal ahead of schedule.
“This includes coverage by UnitedHealthcare and Express Scripts as well as 20 of the top 25 state Medicaid plans.”
UnitedHealthcare is named as a payer that has added coverage for Gilead's HIV-prevention drug Yeztugo, a formulary win supporting the launch.
“we do believe IQVIA data is directionally aligned. It's just some accounts, some channels are not represented in IQVIA, as you well know, so they're not reflected in the data”
Gilead characterizes IQVIA's script data as directionally aligned but incomplete for tracking the new Yeztugo launch, noting coverage gaps in IQVIA's dataset.
“In partnership with Arcellx, data from the iMMagine-1 trial at EHA demonstrated the consistent and compelling efficacy and safety profile of anito-cel.”
Gilead/Kite co-develops anito-cel with Arcellx; positive iMMagine-1 data supports a potential best-in-class multiple myeloma launch, a positive read-through for Arcellx.
“primarily driven by the “Kymera” collaboration we announced in June.”
Gilead's $61M acquired IPR&D in the quarter was driven primarily by a June collaboration with Kymera, signaling an active R&D partnership.
“S&P recently upgraded Gilead Sciences, Inc.'s long-term debt rating from BBB+ with a positive outlook to A- with a stable outlook, recognizing the outlook for our HIV franchise and other products, combined with steady revenue growth and strong cash flow generation”
S&P Global Ratings upgraded Gilead's long-term debt rating to A-, citing steady revenue growth and strong cash flow.
“we announced the positive results from the phase three ASCENT-04 study of Trodelvy in combination with pembrolizumab for first-line PD-L1 positive metastatic triple-negative breast cancer”
Gilead's Trodelvy combined with Merck's pembrolizumab (Keytruda) showed a statistically significant PFS benefit in first-line triple-negative breast cancer, a positive clinical read-through for Merck's combination-therapy franchise.
“the recent addition of our STAT6 program from LEO Pharma”
Gilead acquired rights to LEO Pharma's STAT6 inflammation program, expanding its early-stage inflammation pipeline; the deal's cost will show up in Gilead's Q1 2025 results.
| Courtney Breen | Bernstein | 5 (20%) |
| Chris Schott | JPMorgan | 5 (0%) |
| Mohit Bansal | Wells Fargo | 5 (20%) |
| Umer Raffat | Evercore ISI | 5 (20%) |
| Carter Gould | Cantor Fitzgerald | 4 (25%) |
| Brian Abrahams | RBC Capital Markets | 4 (0%) |
| Daina Graybosch | Leerink Partners | 4 (0%) |
| Firm | Analysts | Questions (Challenge)Percentage of questions scored as challenging — where the analyst pushed back, pressed for specifics, or questioned management's assumptions. |
|---|---|---|
| TD Cowen | 1 | 6 (0%) |
| Citigroup | 1 | 6 (0%) |
| Morgan Stanley | 1 | 6 (0%) |
| Wells Fargo | 1 | 5 (20%) |
| Bernstein | 1 | 5 (20%) |
| Evercore ISI | 1 | 5 (20%) |
| JPMorgan | 1 | 5 (0%) |
| Bank of America | 2 | 4 (75%) |
Gilead closed FY2025 with Q4 product sales ex-Veklury of $7.7 billion, up 7%, and full-year base business exceeding guidance by over $300 million. HIV grew 6% in 2025 with 10% underlying growth excluding Part D reform headwinds, and YES2GO achieved $150 million in its first partial year. New FY2026 guidance introduced $29.6-$30.0 billion total product sales and $8.45-$8.85 EPS, with four potential launches targeted across HIV, oncology, and liver.
Product Launch | Demand | Innovation & R&D | Regulation Policy | Competitive Dynamics | Pricing | Revenue Growth | Geographic Expansion | |
|---|---|---|---|---|---|---|---|---|
| 2024Q4 | 7 | 5 | 4 | 1 | 3 | 2 | ||
| 2025Q1 | 8 | 7 | 3 | 9 | 5 | 1 | ||
| 2025Q2 | 6 | 3 | 2 | 3 | 1 | 2 | 1 | |
| 2025Q3 | 11 | 8 | 2 | 2 | 2 | 3 | 1 | 1 |
| 2025Q4 | 7 | 3 | 5 | 1 | 3 | 1 | ||
| 2026Q1 | 9 | 2 | 3 | 3 | 1 |
| '24Q4 | '25Q1 | '25Q2 | '25Q3 | '25Q4 | '26Q1 | |
|---|---|---|---|---|---|---|
| Product Launch | 7 | 8 | 6 | 11 | 7 | 9 |
| Demand | 5 | 7 | 3 | 8 | 3 | 2 |
| Innovation & R&D | 4 | 3 | 2 | 2 | 5 | 3 |
| Regulation Policy | 1 | 9 | 3 | 2 | 1 | |
| Competitive Dynamics | 3 | 5 | 2 | 3 | 3 | |
| Pricing | 1 | 1 | 3 | 1 | ||
| Revenue Growth | 2 | 2 | 1 | |||
| Geographic Expansion | 1 | 1 | 1 |
| Company | Score | Trend | Rev YoY |
|---|---|---|---|
GILD Gilead Sciences | 8 | +4.4% | |
| ABBV AbbVie | 9 | +12.4% | |
| AMGN Amgen Inc. | 8 | +5.8% | |
| BIIB Biogen | 4 | +1.9% | |
| BMY Bristol Myers Squibb | 4 | +2.6% | |
| JNJ Johnson & Johnson | 7 | +10.1% | |
| LLY Lilly (Eli) | 10 | +55.5% | |
| MRK Merck & Co., Inc. | 7 | +4.3% | |
| PFE Pfizer | 5 | +5.4% |