Gilead's Trodelvy Surpasses $1 Billion in Annual Sales, Yescarta Reaches $1.5 Billion

Feb 07, 2024 07:40 CST Updated 07:40

Gilead Sciences

Antiviral Drug Developer

On February 6, Gilead Sciences released its 2023 financial report, with total revenue of $27.116 billion, a year-on-year decrease of 1%. Product revenue was $26.934 billion, basically flat compared to the same period in 2022, excluding COVID-19 products.Veklury（Remdesivir, with sales of $2.184 billion, impacted the growth by 7% year-over-year. Research and development investment was $5.718 billion, increasing by 14.89% year-over-year.

Gilead Sciences' business mainly focuses on two areas: antiviral and oncology. HIV products serve as the company's foundation, generating cumulative revenue of $18.175 billion (+6%) in 2023, accounting for 67% of the company’s total revenue. The core product, Biktarvy, has achieved year-over-year growth for 22 consecutive quarters, with full-year sales reaching $11.85 billion (+14%) in 2023, capturing 48% of the U.S. market share.

Total revenue from hepatitis products was $2.784 billion, a year-over-year decrease of 1%. Revenue from HCV products was $1.767 billion (-2%), while revenue from HBV and HDV products was $1.017 billion (+3%).

As a key focus and growth area for Gilead in recent years, the oncology portfolio generated $2.932 billion in revenue in 2023, showing strong growth (+37%). This was primarily driven by the sales of three products: the cell therapies Yescarta (axicabtagene ciloleucel) and Tecartus, as well as the Trop2 ADC Trodelvy (sacituzumab govitecan).

Cell therapy contributed a total of $1.869 billion in revenue to Gilead. Financial reports show that, to date, 18,000 patients have received treatment with these products. Specifically, Yescarta achieved sales of $1.498 billion (+29%) in 2023. Due to changes in the production process, the average turnaround time for this product in the United States has been reduced from 16 days to 14 days, which is expected to further boost product sales growth.Tecartus revenue$370 million (+24%).

Trodelvy is the world's first Trop2 ADC to be launched, and it has been approved for three indications, including triple-negative breast cancer, urothelial cancer, and HR+/HER2- breast cancer. In 2023, the product generated revenue of $1.063 billion, a year-over-year increase of 56%, primarily driven by increased demand for breast cancer treatment.

However, recently, the Phase III EVOKE-01 study of Trodelvy versus docetaxel in previously treated patients with metastatic or advanced non-small cell lung cancer (NSCLC) did not meet the primary endpoint of overall survival (OS), casting a shadow over the product. (See:Gilead’s Sacituzumab Govitecan NSCLC Phase III Study Fails to Meet Primary OS Endpoint）