Gilead Sciences Inc. reported strong results for the second quarter of 2025, highlighted by the FDA approval of lenacapavir, marketed as Yeztugo, for twice-yearly HIV prevention. The company also announced a new 6 billion dollar program to support continued share repurchases, aiming to offset equity dilution and provide opportunities for further gains. Acquired IPR&D expenses for the quarter were driven by the Kymera collaboration. Sales and marketing expenses increased due to the HIV franchise, though offset by lower general and administrative costs. The operating margin was reported at 46%, or 47% excluding acquired IPR&D, with a non-GAAP diluted EPS of 2.01. For the full year 2025, Gilead has updated its product sales forecast to reach approximately 27.3 billion to 27.7 billion, reflecting an increase in base business expectations driven by the strong performance of their HIV portfolio and momentum in both Livdelzi and Trodelvy.