GILD · News · 20261104N
Medicare Drug Price Negotiation
GILEAD SCIENCES, INC. · 2026-11-04 · Importance 64 · Surprise 42 · In source text
Jefferies estimated that the Inflation Reduction Act’s impact on Biktarvy revenue could be approximately $1 billion, versus Gilead’s initially guided $1.5 billion headwind. A separate report said a lower Medicare price for Biktarvy is expected to reduce revenue by about $1.5 billion in 2028. Despite that pressure, management forecasts overall HIV revenue, total product sales, and earnings per share to grow in 2028, largely driven by other HIV products.
Key facts
- Gilead initially guided to a $1.5 billion headwind from the Inflation Reduction Act on Biktarvy's revenue. source
- A lower Medicare price for Biktarvy is expected to reduce Gilead Sciences' revenue by about $1.5 billion in 2028. source
- Gilead management forecasts overall HIV revenue, total product sales, and earnings per share to grow in 2028, largely driven by other HIV products. source
Impact estimates
| metric | direction | stage | expected | basis |
|---|---|---|---|---|
| revenue | negative | committed | -15.4% | A lower Medicare price for Biktarvy is expected to reduce Gilead Sciences' revenue by about $1.5 billion in 2028. |