Gilead Sciences Inc (NASDAQ:GILD) stock rose 7.69% (As on February 12, 11:28:01 AM UTC-4, Source: Google Finance) after the company reported fourth quarter results that topped analyst expectations and provided an optimistic forecast for 2025, due to continued demand for its top-selling HIV medicines. Gilead has been trying to develop new sources of growth in cancer and other disease to supplement its longstanding strength in antiviral medicines for HIV, hepatitis C and other pathogens. The strong results come as the Foster City, California-based company is awaiting regulatory approval for a drug that could prevent HIV in at-risk patients using just two yearly injections. In a statement the company said it’s planning for the potential launch of the new preventative medicine this summer. Sales of the blockbuster HIV drug Biktarvy soared 21% to $3.8 billion in the quarter, surpassing analyst estimates of about $3.4 billion. Sales of the company’s second-biggest HIV drug, Descovy, also came in above expectations. Gilead ended 2024 with $10 billion in cash and investments. The board declared a quarterly dividend of $0.79 per share.

Moreover, The Liver Disease portfolio sales increased 4% to $719 million in the fourth quarter 2024 compared to the same period in 2023. This was primarily driven by the launch of Livdelzi® (seladelpar) in primary biliary cholangitis (“PBC”), and increased demand in products for chronic hepatitis B virus (“HBV”) and chronic hepatitis delta virus (“HDV”), partially offset by lower demand and average realized price in products for chronic hepatitis C virus (“HCV”). Veklury sales decreased 53% to $337 million in the fourth quarter 2024 compared to the same period in 2023, primarily driven by lower rates of COVID-19 related hospitalizations, particularly in the United States.

GILD in the fourth quarter of FY 24 has reported the adjusted earnings per share of $1.90, beating the analysts’ estimates for the adjusted earnings per share of $1.71. The company had reported the adjusted revenue of $7.6 billion in the fourth quarter of FY 24, beating the analysts’ estimates for revenue of $7.16 billion. Total product sales increased 7% YoY to $7.5 billion in Q4, driven by 16% growth in HIV product sales to $5.5 billion

The drugmaker forecast profit in the range of $7.70 to $8.10 a share this year, excluding some items, well ahead of the $7.54 average estimate of analysts surveyed by Bloomberg.