Short answer
Gilead Sciences (GILD) filed its fiscal 2024 10-K annual report with the SEC on Feb 28, 2025. It reported revenue of $28.8B (+6.0% year over year) and net income of $480M.
- Top risk flagged: FDA regulatory risk from ongoing antitrust probe involving HIV drug price practices by U.S. Federal Trade Commission
FY2024 key financial metrics · XBRL
- Revenue
- $28.8B
- +6.0% YoY
- Net income
- $480M
- −91.5% YoY
- Operating margin
- 5.8%
- −22.3 pp YoY
- EPS (diluted)
- $0.38
- −91.6% YoY
- ROE
- 2.5%
- −22.3 pp YoY
- Operating cash flow
- $10.8B
- +35.2% YoY
Source: XBRL data from the Gilead Sciences (GILD) FY2024 10-K on SEC EDGAR. USD.
Gilead Sciences FY2024 10-K analysis
AI summary of each section, grounded in the filing text
Business Overview
- Core biopharmaceutical model focused on innovative medicines for life-threatening diseases including HIV, viral hepatitis, COVID-19, cancer, inflammation
- Continued emphasis on fixed-dose combination oral HIV therapies like Biktarvy, Genvoya, Descovy, with FDA-approved PrEP indication for Descovy highlighted this year
- Collaboration with Janssen for co-marketing and revenue sharing on key HIV products such as Odefsey, Complera/Eviplera, and Symtuza maintained and detailed
- Geographic presence expanded to more than 35 countries with global headquarters in Foster City, California
- Distinct focus this filing on extensive oral single-tablet HIV regimens, reinforcing leadership in efficient, convenient antiviral treatments
Management Discussion & Analysis
- Revenue $28.8B, up 6% YoY from $27.1B, driven by HIV, Oncology, Liver Disease sales; Veklury sales declined
- Net income $480M, down 92% YoY from $5.7B; impacted by $4.2B IPR&D impairment and $3.8B CymaBay acquisition expenses
- Oncology impaired by $4.2B Trodelvy IPR&D write-down; Liver Disease boosted by $4.3B CymaBay acquisition adding seladelpar
- Capital allocation included $320M buyout of seladelpar royalties; no specific buybacks or dividends disclosed in excerpt
- 2025 outlook: expected product demand growth, regulatory approvals for lenacapavir HIV prevention, offset by Inflation Reduction Act impact and foreign exchange losses
Risk Factors
- FDA regulatory risk from ongoing antitrust probe involving HIV drug price practices by U.S. Federal Trade Commission
- U.S. market exposure with 70% of total product sales $20.5B concentrated in HIV products, sensitive to U.S. healthcare policy changes
- Supply chain risk due to reliance on key raw materials for Biktarvy production concentrated in single manufacturing site in Europe
- Competitive threat from ViiV Healthcare’s Cabotegravir long-acting injectable HIV treatment impacting Gilead’s Biktarvy sales growth
- Concentration risk with top five products generating over 85% of revenue, potential earnings volatility from single product patent expirations
Generated from the filing text; verify against the original. How to read a 10-K
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