HIV franchise revenue performance
In the first quarter, Gilead Sciences (GILD) reported worldwide HIV product sales of $3.62 billion, a YoY rise of 14% but a sequential decline of 11%. According to the first-quarter earnings conference call, the company reported a rapid uptake of Descovy-based regimens as well as increasing use of Truvada for pre-exposure prophylaxis in the first quarter.
Gilead Sciences reported revenues of $2.83 billion from the US market in the first quarter, a YoY rise of 19% but a sequential decline of 16.84%. According to the first-quarter earnings conference call, the company witnessed an inventory drawdown and a change in payer mix, which is a typical pattern seen every year from the fourth quarter to the first quarter.
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Gilead Sciences reported revenues of $569 million from the European market in the first quarter, a YoY decline of 7.18% and a sequential rise of 11.35%. According to the first-quarter earnings conference call, Gilead Sciences suffered due to the easy availability of generic versions of Truvada in the European market. In the first quarter, Descovy-based regimens accounted for almost 80% of the company’s HIV sales, both in the US and in Europe.
According to the first-quarter earnings conference call, Gilead Sciences’ HIV franchise reported a 12% YoY rise in underlying prescription demand in the US market. In the first quarter, Biktarvy reported US market sales of $739 million and emerged as the number one HIV regimen prescribed for both treatment-naïve and switch patients in the US market. According to the first-quarter earnings conference call, while 80% of Biktarvy’s patients have switched from other therapies, 25% of them have switched from Genvoya and 25% from dolutegravir-based regimens.
Truvada has experienced rapid growth in demand in the US market. The company has focused its efforts on educating both physicians and at-risk individuals. At the end of the first quarter, 201,000 people had received Truvada as pre-exposure prophylaxis therapy in the US.