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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 10-Q
|
| | |
☒ | QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |
For the quarterly period ended March 31, 2020
or
|
| |
☐ | TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |
For the transition period from ________ to ________
Commission File No. 0-19731
GILEAD SCIENCES, INC.
(Exact Name of Registrant as Specified in Its Charter)
|
| |
Delaware | 94-3047598 |
(State or Other Jurisdiction of Incorporation) | (IRS Employer Identification No.) |
333 Lakeside Drive, Foster City, California 94404
(Address of principal executive offices) (Zip Code)
650-574-3000
(Registrant’s Telephone Number, Including Area Code)
Securities registered pursuant to Section 12(b) of the Act:
|
| | | | |
Title of each class | | Trading Symbol(s) | | Name of each exchange on which registered |
Common Stock, par value, $0.001 per share | | GILD | | The Nasdaq Global Select Market |
Indicate by check mark whether the registrant: (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes x No ¨
Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes x No ¨
Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer” “smaller reporting company” and “emerging growth company” in Rule 12b-2 of the Exchange Act.
Large accelerated filer x Accelerated filer ¨ Non-accelerated filer ¨
Smaller reporting company ☐ Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ¨
Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).
Yes ☐ No x
Number of shares outstanding of the issuer’s common stock, par value $0.001 per share, as of April 30, 2020: 1,254,373,400
GILEAD SCIENCES, INC.
INDEX
|
| | | | |
PART I. | | | |
| | | | |
| Item 1. | | | |
| | | | |
| | | | |
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| Item 2. | | | |
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| Item 3. | | | |
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| Item 4. | | | |
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PART II. | | | |
| | | | |
| Item 1. | | | |
| | | | |
| Item 1A. | | | |
| | | | |
| Item 2. | | | |
| | | | |
| Item 3. | | | |
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| Item 4. | | | |
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| Item 5. | | | |
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| Item 6. | | | |
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| | |
We own or have rights to various trademarks, copyrights and trade names used in our business, including the following: GILEAD®, GILEAD SCIENCES®, AMBISOME®, ATRIPLA®, BIKTARVY®, CAYSTON®, COMPLERA®, DESCOVY®, DESCOVY FOR PREP®, EMTRIVA®, EPCLUSA®, EVIPLERA®, GENVOYA®, HARVONI®, HEPSERA®, LETAIRIS®, ODEFSEY®, RANEXA®, SOVALDI®, STRIBILD®, TRUVADA®, TRUVADA FOR PREP®, TYBOST®, VEMLIDY®, VIREAD®, VOSEVI®, YESCARTA® and ZYDELIG®. LEXISCAN® is a registered trademark of Astellas U.S. LLC. MACUGEN® is a registered trademark of Eyetech, Inc. SYMTUZA® is a registered trademark of Janssen Sciences Ireland UC. TAMIFLU® is a registered trademark of Hoffmann-La Roche Inc. This report also includes other trademarks, service marks and trade names of other companies.
| |
PART I. | FINANCIAL INFORMATION |
Item 1. CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
GILEAD SCIENCES, INC.
CONDENSED CONSOLIDATED BALANCE SHEETS
(unaudited)
(in millions, except per share amounts)
|
| | | | | | | |
| March 31, 2020 | | December 31, 2019 |
Assets | | | |
Current assets: | | | |
Cash and cash equivalents | $ | 10,051 |
| | $ | 11,631 |
|
Short-term marketable securities | 10,734 |
| | 12,721 |
|
Accounts receivable, net of allowances of $793 and $758, respectively | 3,907 |
| | 3,582 |
|
Inventories | 986 |
| | 922 |
|
Prepaid and other current assets | 1,272 |
| | 1,440 |
|
Total current assets | 26,950 |
| | 30,296 |
|
Property, plant and equipment, net | 4,564 |
| | 4,502 |
|
Long-term marketable securities | 3,529 |
| | 1,488 |
|
Intangible assets, net | 13,502 |
| | 13,786 |
|
Goodwill | 4,117 |
| | 4,117 |
|
Other long-term assets | 7,079 |
| | 7,438 |
|
Total assets | $ | 59,741 |
| | $ | 61,627 |
|
Liabilities and Stockholders’ Equity | |
| | |
|
Current liabilities: | |
| | |
|
Accounts payable | $ | 590 |
| | $ | 713 |
|
Accrued government and other rebates | 3,457 |
| | 3,473 |
|
Other accrued liabilities | 2,833 |
| | 3,074 |
|
Current portion of long-term debt and other obligations, net | 1,999 |
| | 2,499 |
|
Total current liabilities | 8,879 |
| | 9,759 |
|
Long-term debt, net | 22,098 |
| | 22,094 |
|
Long-term income taxes payable | 5,595 |
| | 6,115 |
|
Other long-term obligations | 990 |
| | 1,009 |
|
Commitments and contingencies (Note 10) |
|
| |
|
|
Stockholders’ equity: | |
| | |
|
Preferred stock, par value $0.001 per share; 5 shares authorized; none outstanding | — |
| | — |
|
Common stock, par value $0.001 per share; 5,600 shares authorized; 1,254 and 1,266 shares issued and outstanding, respectively | 1 |
| | 1 |
|
Additional paid-in capital | 3,311 |
| | 3,051 |
|
Accumulated other comprehensive income | 46 |
| | 85 |
|
Retained earnings | 18,709 |
| | 19,388 |
|
Total Gilead stockholders’ equity | 22,067 |
| | 22,525 |
|
Noncontrolling interest | 112 |
| | 125 |
|
Total stockholders’ equity | 22,179 |
| | 22,650 |
|
Total liabilities and stockholders’ equity | $ | 59,741 |
| | $ | 61,627 |
|
See accompanying notes.
GILEAD SCIENCES, INC.
CONDENSED CONSOLIDATED STATEMENTS OF INCOME
(unaudited)
(in millions, except per share amounts)
|
| | | | | | | | |
| | Three Months Ended |
| | March 31, |
| | 2020 | | 2019 |
Revenues: | | | | |
Product sales | | $ | 5,467 |
| | $ | 5,200 |
|
Royalty, contract and other revenues | | 81 |
| | 81 |
|
Total revenues | | 5,548 |
| | 5,281 |
|
Costs and expenses: | | | | |
Cost of goods sold | | 969 |
| | 957 |
|
Research and development expenses | | 1,101 |
| | 1,057 |
|
Selling, general and administrative expenses | | 1,076 |
| | 1,030 |
|
Total costs and expenses | | 3,146 |
| | 3,044 |
|
Income from operations | | 2,402 |
| | 2,237 |
|
Interest expense | | (241 | ) | | (254 | ) |
Other income (expense), net | | (158 | ) | | 367 |
|
Income before provision for income taxes | | 2,003 |
| | 2,350 |
|
Provision for income taxes | | 465 |
| | 382 |
|
Net income | | 1,538 |
| | 1,968 |
|
Net loss attributable to noncontrolling interest | | (13 | ) | | (7 | ) |
Net income attributable to Gilead | | $ | 1,551 |
| | $ | 1,975 |
|
| | | | |
Net income per share attributable to Gilead common stockholders - basic | | $ | 1.23 |
| | $ | 1.55 |
|
Shares used in per share calculation - basic | | 1,262 |
| | 1,276 |
|
Net income per share attributable to Gilead common stockholders - diluted | | $ | 1.22 |
| | $ | 1.54 |
|
Shares used in per share calculation - diluted | | 1,270 |
| | 1,283 |
|
See accompanying notes.
GILEAD SCIENCES, INC.
CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME
(unaudited)
(in millions)
|
| | | | | | | | |
| | Three Months Ended |
| | March 31, |
| | 2020 | | 2019 |
Net income | | $ | 1,538 |
| | $ | 1,968 |
|
Other comprehensive income: | | | | |
Net foreign currency translation (loss) gain, net of tax | | (39 | ) | | 21 |
|
Available-for-sale debt securities: | | | | |
Net unrealized (loss) gain, net of tax | | (23 | ) | | 30 |
|
Reclassifications to net income, net of tax | | (11 | ) | | — |
|
Net change | | (34 | ) | | 30 |
|
Cash flow hedges: | | | | |
Net unrealized gain, net of tax | | 57 |
| | 28 |
|
Reclassifications to net income, net of tax | | (23 | ) | | (29 | ) |
Net change | | 34 |
| | (1 | ) |
Other comprehensive (loss) income | | (39 | ) | | 50 |
|
Comprehensive income | | 1,499 |
| | 2,018 |
|
Comprehensive loss attributable to noncontrolling interest | | (13 | ) | | (7 | ) |
Comprehensive income attributable to Gilead | | $ | 1,512 |
| | $ | 2,025 |
|
See accompanying notes.
GILEAD SCIENCES, INC.
CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS’ EQUITY
(unaudited)
(in millions, except per share amounts)
|
| | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | Three Months Ended March 31, 2020 |
| | Gilead Stockholders’ Equity | | Noncontrolling Interest | | Total Stockholders’ Equity |
| Common Stock | | Additional Paid-In Capital | | Accumulated Other Comprehensive Income | | Retained Earnings | |
| Shares | | Amount | | |
Balance at December 31, 2019 | | 1,266 |
| | $ | 1 |
| | $ | 3,051 |
| | $ | 85 |
| | $ | 19,388 |
| | $ | 125 |
| | $ | 22,650 |
|
Net income (loss) | | — |
| | — |
| | — |
| | — |
| | 1,551 |
| | (13 | ) | | 1,538 |
|
Other comprehensive loss, net of tax | | — |
| | — |
| | — |
| | (39 | ) | | — |
| | — |
| | (39 | ) |
Issuances under employee stock purchase plan | | 1 |
| | — |
| | 66 |
| | — |
| | — |
| | — |
| | 66 |
|
Issuances under equity incentive plans | | 7 |
| | — |
| | 111 |
| | — |
| | — |
| | — |
| | 111 |
|
Stock-based compensation | | — |
| | — |
| | 141 |
| | — |
| | — |
| | — |
| | 141 |
|
Repurchases of common stock | | (20 | ) | | — |
| | (58 | ) | | — |
| | (1,356 | ) | | — |
| | (1,414 | ) |
Dividends declared ($0.68 per share) | | — |
| | — |
| | — |
| | — |
| | (867 | ) | | — |
| | (867 | ) |
Cumulative effect from the adoption of new accounting standard (Note 1) | | — |
| | — |
| | — |
| | — |
| | (7 | ) | | — |
| | (7 | ) |
Balance at March 31, 2020 | | 1,254 |
| | $ | 1 |
| | $ | 3,311 |
| | $ | 46 |
| | $ | 18,709 |
| | $ | 112 |
| | $ | 22,179 |
|
|
| | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | Three Months Ended March 31, 2019 |
| | Gilead Stockholders’ Equity | | Noncontrolling Interest | | Total Stockholders’ Equity |
| Common Stock | | Additional Paid-In Capital | | Accumulated Other Comprehensive Income | | Retained Earnings | |
| Shares | | Amount | | |
Balance at December 31, 2018 | | 1,282 |
| | $ | 1 |
| | $ | 2,282 |
| | $ | 80 |
| | $ | 19,024 |
| | $ | 147 |
| | $ | 21,534 |
|
Net income (loss) | | — |
| | — |
| | — |
| | — |
| | 1,975 |
| | (7 | ) | | 1,968 |
|
Other comprehensive income, net of tax | | — |
| | — |
| | — |
| | 50 |
| | — |
| | — |
| | 50 |
|
Issuances under employee stock purchase plan | | 1 |
| | — |
| | 63 |
| | — |
| | — |
| | — |
| | 63 |
|
Issuances under equity incentive plans | | 4 |
| | — |
| | 41 |
| | — |
| | — |
| | — |
| | 41 |
|
Stock-based compensation | | — |
| | — |
| | 144 |
| | — |
| | — |
| | — |
| | 144 |
|
Repurchases of common stock | | (13 | ) | | — |
| | (36 | ) | | — |
| | (867 | ) | | — |
| | (903 | ) |
Dividends declared ($0.63 per share) | | — |
| | — |
| | — |
| | — |
| | (814 | ) | | — |
| | (814 | ) |
Cumulative effect from the adoption of new accounting standard | | — |
| | — |
| | — |
| | — |
| | 8 |
| | — |
| | 8 |
|
Balance at March 31, 2019 | | 1,274 |
| | $ | 1 |
| | $ | 2,494 |
| | $ | 130 |
| | $ | 19,326 |
| | $ | 140 |
| | $ | 22,091 |
|
See accompanying notes.
GILEAD SCIENCES, INC.
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(unaudited)
(in millions)
|
| | | | | | | | |
| | Three Months Ended |
| | March 31, |
| | 2020 | | 2019 |
Operating Activities: | | | | |
Net income | | $ | 1,538 |
| | $ | 1,968 |
|
Adjustments to reconcile net income to net cash provided by operating activities: | | | | |
Depreciation expense | | 68 |
| | 60 |
|
Amortization expense | | 281 |
| | 299 |
|
Stock-based compensation expense | | 141 |
| | 143 |
|
Deferred income taxes | | 56 |
| | 24 |
|
Net unrealized loss (gain) from equity securities | | 283 |
| | (197 | ) |
Up-front and milestone expense related to collaborative and other arrangements | | 111 |
| | 133 |
|
Other | | 59 |
| | 40 |
|
Changes in operating assets and liabilities: | | | | |
Accounts receivable, net | | (376 | ) | | 32 |
|
Inventories | | 15 |
| | (15 | ) |
Prepaid expenses and other | | 46 |
| | (43 | ) |
Accounts payable | | (109 | ) | | (201 | ) |
Income taxes payable | | (127 | ) | | (249 | ) |
Accrued liabilities and other | | (550 | ) | | (417 | ) |
Net cash provided by operating activities | | 1,436 |
| | 1,577 |
|
| | | | |
Investing Activities: | | | | |
Purchases of marketable debt securities | | (13,158 | ) | | (6,722 | ) |
Proceeds from sales of marketable debt securities | | 9,656 |
| | 575 |
|
Proceeds from maturities of marketable debt securities | | 3,449 |
| | 6,511 |
|
Up-front and milestone payments related to collaborative and other arrangements | | (112 | ) | | (133 | ) |
Purchases of equity securities | | (8 | ) | | (56 | ) |
Capital expenditures | | (171 | ) | | (237 | ) |
Other | | — |
| | (182 | ) |
Net cash used in investing activities | | (344 | ) | | (244 | ) |
| | | | |
Financing Activities: | | | | |
Proceeds from issuances of common stock | | 177 |
| | 103 |
|
Repurchases of common stock | | (1,328 | ) | | (834 | ) |
Repayments of debt and other obligations | | (500 | ) | | (750 | ) |
Payments of dividends | | (874 | ) | | (817 | ) |
Other | | (86 | ) | | (68 | ) |
Net cash used in financing activities | | (2,611 | ) | | (2,366 | ) |
Effect of exchange rate changes on cash and cash equivalents | | (61 | ) | | 20 |
|
Net change in cash and cash equivalents | | (1,580 | ) | | (1,013 | ) |
Cash and cash equivalents at beginning of period | | 11,631 |
| | 17,940 |
|
Cash and cash equivalents at end of period | | $ | 10,051 |
| | $ | 16,927 |
|
See accompanying notes.
GILEAD SCIENCES, INC.
NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
(unaudited)
| |
1. | SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES |
Basis of Presentation
The accompanying unaudited Condensed Consolidated Financial Statements have been prepared in accordance with U.S. generally accepted accounting principles for interim financial information. The financial statements include all adjustments consisting of normal recurring adjustments that the management of Gilead Sciences, Inc. (Gilead, we, our or us) believes are necessary for a fair presentation of the periods presented. These interim financial results are not necessarily indicative of results expected for the full fiscal year or for any subsequent interim period.
The accompanying Condensed Consolidated Financial Statements include the accounts of Gilead, our wholly-owned subsidiaries and certain variable interest entities for which we are the primary beneficiary. All intercompany transactions have been eliminated. For consolidated entities where we own or are exposed to less than 100% of the economics, we record net income (loss) attributable to noncontrolling interest in our Condensed Consolidated Statements of Income equal to the percentage of the economic or ownership interest retained in such entities by the respective noncontrolling parties.
We assess whether we are the primary beneficiary of a variable interest entity (VIE) at the inception of the arrangement and at each reporting date. This assessment is based on our power to direct the activities of the VIE that most significantly impact the VIE’s economic performance and our obligation to absorb losses or the right to receive benefits from the VIE that could potentially be significant to the VIE.
The accompanying Condensed Consolidated Financial Statements and related Notes to Condensed Consolidated Financial Statements should be read in conjunction with the audited Consolidated Financial Statements and the related notes thereto for the year ended December 31, 2019, included in our Annual Report on Form 10-K filed with the U.S. Securities and Exchange Commission.
Segment Information
We have one operating segment, which focuses on the discovery, development and commercialization of innovative medicines in areas of unmet medical need. Our Chief Executive Officer (CEO), as the chief operating decision-maker, manages and allocates resources to the operations of our company on an entity-wide basis. Managing and allocating resources on an entity-wide basis enables our CEO to assess the overall level of resources available and how to best deploy these resources across functions and research and development (R&D) projects based on unmet medical need and, as necessary, reallocate resources among our internal R&D portfolio and external opportunities to best support the long-term growth of our business. See Note 2. Revenues for additional information.
Significant Accounting Policies, Estimates and Judgments
The preparation of these Condensed Consolidated Financial Statements requires us to make estimates and judgments that affect the reported amounts of assets, liabilities, revenues and expenses and related disclosures. On an ongoing basis, we evaluate our significant accounting policies and estimates. We base our estimates on historical experience and on various market-specific and other relevant assumptions that we believe to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities that are not readily apparent from other sources. Estimates are assessed each period and updated to reflect current information, such as the economic considerations related to the impact that the recent coronavirus disease (COVID-19) could have on our significant accounting estimates. Actual results could differ materially from these estimates under different assumptions or conditions.
Reclassification
Certain amounts for the three months ended March 31, 2019 were reclassified to conform to the current period presentation. Up-front and milestone payments related to collaborative and other arrangements of $133 million previously classified as cash flows from operating activities in the Condensed Consolidated Statements of Cash Flows are now presented as cash flows from investing activities.
Concentrations of Risk
We are subject to credit risk from our portfolio of cash equivalents and marketable securities. Under our investment policy, we limit amounts invested in such securities by credit rating, maturity, industry group, investment type and issuer, except for securities issued by the U.S. government. We are not exposed to any significant concentrations of credit risk from our investment portfolio. The goals of our investment policy, in order of priority, are as follows: safety and preservation of principal and diversification of risk; liquidity of investments sufficient to meet cash flow requirements; and a competitive after-tax rate of return.
We are also subject to credit risk from our accounts receivable related to our product sales. Trade accounts receivable are recorded net of allowances for wholesaler chargebacks related to government and other programs, cash discounts for prompt payment and credit losses. Estimates of our allowance for credit losses consider a number of factors including existing contractual payment terms, individual customer circumstances, historical payment patterns of our customers, a review of the local economic environment and its potential impact on expected future customer payment patterns and government funding and reimbursement practices. The majority of our trade accounts receivable arises from product sales in the United States, Europe and Japan. Our allowance for credit losses was $55 million and $47 million as of March 31, 2020 and January 1, 2020, respectively. There were no write-offs charged against the allowance for the three months ended March 31, 2020.
Recently Adopted Accounting Standards
In June 2016, the FASB issued Accounting Standards Update No. 2016-13 “Financial Instruments-Credit Losses: Measurement of Credit Losses on Financial Instruments” (ASU 2016-13) and has since modified the standard with several ASUs (collectively the “new credit loss standard”). The new credit loss standard requires measurement and recognition of expected credit losses for financial assets. On January 1, 2020, we adopted this standard using a modified retrospective approach. The adoption did not have a material impact on our Condensed Consolidated Financial Statements.
In November 2018, the FASB issued Accounting Standards Update No. 2018-18 “Collaborative Arrangements (Topic 808): Clarifying the Interaction between Topic 808 and Topic 606” (ASU 2018-18). ASU 2018-18 clarifies that certain transactions between participants in a collaborative arrangement should be accounted for under ASC 606 when the counterparty is a customer. In addition, the update precludes an entity from presenting consideration from a transaction in a collaborative arrangement as customer revenue if the counterparty is not a customer for that transaction. On January 1, 2020, we adopted this standard and applied it retrospectively to January 1, 2018 when we initially adopted Topic 606. The adoption did not have an impact on our Condensed Consolidated Financial Statements.
Disaggregation of Revenues
The following table disaggregates our product sales by product and geographic region and disaggregates our royalty, contract and other revenues by geographic region (in millions):
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| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | Three Months Ended March 31, 2020 | | Three Months Ended March 31, 2019 |
| | U.S. | | Europe | | Other Locations | | Total | | U.S. | | Europe | | Other Locations | | Total |
Product sales: | | | | | | | | | | | | | | | | |
Atripla | | $ | 81 |
| | $ | 7 |
| | $ | 7 |
| | $ | 95 |
| | $ | 133 |
| | $ | 16 |
| | $ | 22 |
| | $ | 171 |
|
Biktarvy | | 1,412 |
| | 181 |
| | 100 |
| | 1,693 |
| | 739 |
| | 48 |
| | 6 |
| | 793 |
|
Complera/Eviplera | | 24 |
| | 47 |
| | 5 |
| | 76 |
| | 44 |
| | 62 |
| | 9 |
| | 115 |
|
Descovy | | 363 |
| | 61 |
| | 34 |
| | 458 |
| | 233 |
| | 68 |
| | 41 |
| | 342 |
|
Genvoya | | 612 |
| | 151 |
| | 61 |
| | 824 |
| | 728 |
| | 193 |
| | 94 |
| | 1,015 |
|
Odefsey | | 269 |
| | 127 |
| | 13 |
| | 409 |
| | 282 |
| | 106 |
| | 9 |
| | 397 |
|
Stribild | | 34 |
| | 17 |
| | 2 |
| | 53 |
| | 67 |
| | 18 |
| | 11 |
| | 96 |
|
Truvada | | 383 |
| | 8 |
| | 15 |
| | 406 |
| | 551 |
| | 33 |
| | 22 |
| | 606 |
|
Other HIV(1) | | 3 |
| | 2 |
| | 3 |
| | 8 |
| | 11 |
| | 1 |
| | 5 |
| | 17 |
|
Revenue share – Symtuza(2) | | 72 |
| | 38 |
| | 2 |
| | 112 |
| | 42 |
| | 24 |
| | — |
| | 66 |
|
AmBisome | | 18 |
| | 59 |
| | 42 |
| | 119 |
| | 8 |
| | 57 |
| | 28 |
| | 93 |
|
Ledipasvir/Sofosbuvir(3) | | 53 |
| | 11 |
| | 48 |
| | 112 |
| | 117 |
| | 27 |
| | 81 |
| | 225 |
|
Letairis | | 83 |
| | — |
| | — |
| | 83 |
| | 197 |
| | — |
| | — |
| | 197 |
|
Ranexa | | 8 |
| | — |
| | — |
| | 8 |
| | 155 |
| | — |
| | — |
| | 155 |
|
Sofosbuvir/Velpatasvir(4) | | 311 |
| | 122 |
| | 131 |
| | 564 |
| | 230 |
| | 154 |
| | 107 |
| | 491 |
|
Vemlidy | | 73 |
| | 7 |
| | 56 |
| | 136 |
| | 65 |
| | 4 |
| | 32 |
| | 101 |
|
Viread | | 4 |
| | 11 |
| | 25 |
| | 40 |
| | 12 |
| | 14 |
| | 46 |
| | 72 |
|
Vosevi | | 33 |
| | 11 |
| | 4 |
| | 48 |
| | 45 |
| | 16 |
| | 2 |
| | 63 |
|
Yescarta | | 103 |
| | 37 |
| | — |
| | 140 |
| | 90 |
| | 6 |
| | — |
| | 96 |
|
Zydelig | | 8 |
| | 12 |
| | — |
| | 20 |
| | 11 |
| | 15 |
| | 1 |
| | 27 |
|
Other(5) | | 42 |
| | 18 |
| | 3 |
| | 63 |
| | 36 |
| | 20 |
| | 6 |
| | 62 |
|
Total product sales | | 3,989 |
| | 927 |
| | 551 |
| | 5,467 |
| | 3,796 |
| | 882 |
| | 522 |
| | 5,200 |
|
Royalty, contract and other revenues | | 17 |
| | 48 |
| | 16 |
| | 81 |
| | 22 |
| | 56 |
| | 3 |
| | 81 |
|
Total revenues | | $ | 4,006 |
| | $ | 975 |
| | $ | 567 |
| | $ | 5,548 |
| | $ | 3,818 |
| | $ | 938 |
| | $ | 525 |
|