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Gilead Sciences Inc.

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Gilead is a dominant player in the HIV market. Its HIV franchise has been performing well, thanks to newly launched TAF-based products Genvoya, Descovy and Odefsey. In addition to a solid presence in the HIV market, Gilead is known for its blockbuster HCV drugs, Sovaldi and Harvoni. Also, newly launched HCV drug Epclusa’s uptake has been impressive. It is working on ramping up HCV sales by raising awareness through educational campaigns. Meanwhile, Gilead’s efforts to develop its pipeline bode well for long-term growth. Gilead is also working on growing its business beyond antivirals into diverse therapeutic areas. Going forward, we may see activities on the merger and acquisitions front. However, shares of Gilead have underperformed the biotech industry in the past one year. Weaker-than-expected HCV franchise sales due to competitive and pricing pressure are concerning. Pipeline setbacks and drug pricing issues are material threats.


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