Independent research on the U.S. markets, Baptista Research

Baptista Research

Independent research on the U.S. markets

Baptista Research is an independent financial research house focused on the U.S. markets. We provide equity research as well as credit research reports on the top-listed U.S. companies with most of our focus on technology, consumer goods and services, automobiles, industrials, oil and gas, pharma, and healthcare. Our research has served more than 3000 institutional investors including mutual funds, hedge funds, banks, family offices, and various buy-side firms. We operate a research subscription service where institutions, as well as retail investors, can have priority access to all our research. We also have a wide distribution of our research reports across some of the top global financial platforms. Apart from equity research and credit research, we also provide advisory services with respect to mergers & acquisitions (M&A), private equity/ venture capital fundraising, valuation reports, and investment management services for corporates.
Baptista Research is owned and managed by Ishan Majumdar, an ex-Venture Capitalist/ Investment Banker, a Chartered Accountant, and a Masters’ degree holder in Management from HEC Paris. Ishan has nearly a decade of experience in Mergers and Acquisitions, Leveraged Buyouts (LBOs), Venture Capital Investing, Corporate Strategy, and Valuation in front-office roles at the likes of BNP Paribas CIB, Credit Agricole CIB, Groupe Danone, and TIW Private Equity. He has worked on and closed multiple acquisition deals, leveraged buyouts, and start-up investment transactions.

Equity Bottom-Up

<ul><li>Gilead Sciences Inc. reported a second quarter of 2026 marked by solid commercial growth and progress across its therapeutic segments, particularly in HIV, oncology, and liver disease.</li><li>Total product sales, excluding Veklury (the company’s COVID-19 therapy), increased 10% year-over-year to $7.6 billion.</li><li>This growth was mainly driven by higher sales in the HIV portfolio, including Biktarvy, Descovy, and Yeztugo, along with oncology drug Trodelvy and liver disease treatment Livdelzi.</li></ul>

Gilead Sciences Inc. reported a second quarter of 2026 marked by solid commercial growth and progress across its therapeutic segments, particularly in HIV, oncology, and liver disease.Total product sales, excluding Veklury (the company’s COVID-19 therapy), increased 10% year-over-year to $7.6 billion.This growth was mainly driven by higher sales in the HIV portfolio, including Biktarvy, Descovy, and Yeztugo, along with oncology drug Trodelvy and liver disease treatment Livdelzi.

Gilead Sciences Goes All-In On HIV — PrEP Sales Cross $1 Billion!

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<ul>
  <li>Gilead's dominance in the HIV market, led by blockbuster drugs like Biktarvy, provides a substantial and durable cash flow base, funding shareholder returns and strategic investments.</li>
  <li>The company is strategically diversifying its revenue streams by expanding its oncology portfolio through both internal R&amp;D and significant acquisitions, with products like Trodelvy and its cell therapy franchise (Kite) being key growth drivers.</li>
  <li>While facing challenges such as patent expirations, intense competition, and drug pricing pressures, Gilead's robust pipeline, particularly in long-acting HIV treatments and new oncology indications, presents significant opportunities for future growth.</li>
</ul><p><em>This content is AI-generated and displayed for general informational purposes only. Please verify independently before use.</em></p>


  Gilead's dominance in the HIV market, led by blockbuster drugs like Biktarvy, provides a substantial and durable cash flow base, funding shareholder returns and strategic investments.
  The company is strategically diversifying its revenue streams by expanding its oncology portfolio through both internal R&amp;D and significant acquisitions, with products like Trodelvy and its cell therapy franchise (Kite) being key growth drivers.
  While facing challenges such as patent expirations, intense competition, and drug pricing pressures, Gilead's robust pipeline, particularly in long-acting HIV treatments and new oncology indications, presents significant opportunities for future growth.
This content is AI-generated and displayed for general informational purposes only. Please verify independently before use.

Primer: Gilead Sciences (GILD US) - Aug 2026

<ul><li>Gilead Sciences reported a solid first quarter of 2026 characterized by strong commercial performance across its key therapeutic areas, offset by anticipated headwinds in some segments.</li><li>Total product sales excluding Veklury reached $6.8 billion, marking an 8% year-over-year increase, primarily driven by growth in the HIV franchise, oncology, and liver disease sectors.</li><li>Including Veklury, total sales were $6.9 billion, up 5%, though down 12% sequentially in line with typical seasonal patterns.</li></ul>

Gilead Sciences reported a solid first quarter of 2026 characterized by strong commercial performance across its key therapeutic areas, offset by anticipated headwinds in some segments.Total product sales excluding Veklury reached $6.8 billion, marking an 8% year-over-year increase, primarily driven by growth in the HIV franchise, oncology, and liver disease sectors.Including Veklury, total sales were $6.9 billion, up 5%, though down 12% sequentially in line with typical seasonal patterns.

Gilead Sciences’ $400 Million Guidance Lift: Is HIV Still The Core Growth Engine?

<ul><li>Gilead Sciences has committed more than $12 billion across three major transactions in 2026, and the pattern is more revealing than any single press release.</li><li>On the surface, the company is buying a cancer biotech in Tubulis, a cell therapy platform through Arcellx, and an autoimmune asset base through Ouro Medicines.</li><li>But taken together, the transactions show a company using a strong balance sheet, durable HIV cash flows, and a long patent runway to reshape what its revenue base could look like in the next decade.</li></ul>

Gilead Sciences has committed more than $12 billion across three major transactions in 2026, and the pattern is more revealing than any single press release.On the surface, the company is buying a cancer biotech in Tubulis, a cell therapy platform through Arcellx, and an autoimmune asset base through Ouro Medicines.But taken together, the transactions show a company using a strong balance sheet, durable HIV cash flows, and a long patent runway to reshape what its revenue base could look like in the next decade.

Gilead Sciences Made Three BIG ACQUISITIONS—But The Real Story Is Bigger!

<ul><li>Gilead Sciences has entered 2026 with unusually broad strategic momentum: the company closed out 2025 with strong HIV performance, rising contributions from liver disease, a catalyst-rich oncology pipeline, and guidance for continued base-business growth despite policy and pricing headwinds.</li><li>Against that backdrop, its plan to acquire Ouro Medicines for up to roughly $2.18 billion stands out as more than a simple bolt-on transaction.</li><li>The proposed structure includes about $1.68 billion in cash upfront and up to $500 million in milestone payments, while a parallel collaboration with Galapagos would split much of the financial burden and operational responsibility tied to the acquired assets.</li></ul>

Gilead Sciences has entered 2026 with unusually broad strategic momentum: the company closed out 2025 with strong HIV performance, rising contributions from liver disease, a catalyst-rich oncology pipeline, and guidance for continued base-business growth despite policy and pricing headwinds.Against that backdrop, its plan to acquire Ouro Medicines for up to roughly $2.18 billion stands out as more than a simple bolt-on transaction.The proposed structure includes about $1.68 billion in cash upfront and up to $500 million in milestone payments, while a parallel collaboration with Galapagos would split much of the financial burden and operational responsibility tied to the acquired assets.

Gilead Sciences' Ouro Medicines Acquisition: Is This $2.18B Bet Its Next Growth Engine?

United States

Gilead Sciences, Inc. is a research-based biopharmaceutical company that discovers, develops, and commercializes therapeutics to advance the care of patients suffering from life-threatening diseases.  The Company's primary areas of focus include HIV/AIDS, liver disease and serious cardiovascular and respiratory conditions.

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Gilead Sciences (GILD US)

Gilead Sciences Goes All-In On HIV — PrEP Sales Cross $1 Billion!

Gilead Sciences Inc. reported a second quarter of 2026 marked by solid commercial growth and progress across its therapeutic segments,...

Baptista Research

Primer: Gilead Sciences (GILD US) - Aug 2026

Gilead's dominance in the HIV market, led by blockbuster drugs like Biktarvy, provides a substantial and durable cash flow base, funding...

αSK Primers

Gilead Sciences’ $400 Million Guidance Lift: Is HIV Still The Core Growth Engine?

Gilead Sciences reported a solid first quarter of 2026 characterized by strong commercial performance across its key therapeutic areas, offset by...

Baptista Research

Gilead Sciences Made Three BIG ACQUISITIONS—But The Real Story Is Bigger!

Gilead Sciences has committed more than $12 billion across three major transactions in 2026, and the pattern is more revealing than any single...

Baptista Research

Gilead Sciences' Ouro Medicines Acquisition: Is This $2.18B Bet Its Next Growth Engine?

Gilead Sciences has entered 2026 with unusually broad strategic momentum: the company closed out 2025 with strong HIV performance, rising...

Baptista Research

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