Gilead Sciences

Biopharmaceutical pioneer that revolutionized HIV treatment with antiretroviral therapy and later dominated hepatitis C with curative drugs.

历史时间线

• 1987: Michael L. Riordan founds Gilead Sciences in Foster City, California
• 1992: IPO on NASDAQ
• 2003: FDA approves Viread — key HIV antiretroviral
• 2006: Completa: Atripla (single-pill HIV combo) — market-leading
• 2013: Acquires Pharmasset for $11B; gains sofosbuvir (Sovaldi) — hepatitis C cure
• 2015: Harvoni (HCV combo) generates $10B+ in first year
• 2020: Remdesivir becomes first FDA-approved COVID-19 treatment; $30B+ revenue

商业模式

R&D-focused biopharma with specialty in antivirals. Revenue from HIV franchise (Biktarvy = #1 selling HIV drug globally), hepatitis C treatments, oncology (Yescarta CAR-T), and remdesivir. High-margin specialty drugs with patent protection. Growing oncology and cell therapy pipeline via acquisitions.

护城河分析

Dominant HIV franchise with Biktardy (single-tablet regimen, best-in-class tolerability); first-mover in hepatitis C cure; remdesivir established position in infectious disease; strong R&D pipeline in cell/gene therapy; patent cliff management via lifecycle extensions.

关键数据

• revenue: $27B+ (2023)
• key_drug: Biktarvy (#1 HIV drug globally)
• employees: ~17,000
• market_cap: ~$110B
• therapeutic_areas: HIV, HCV, oncology, inflammation

有趣事实

Sovaldi (sofosbuvir) was the first drug to cure hepatitis C with a 12-week pill regimen — a disease that previously required a year of injections with terrible side effects. The drug was priced at $84,000 per course, sparking a massive pricing debate. It generated $10B+ in its first year but cured millions.