Gilead Sees 2026 Loss on $11.5 Billion in Deal-Related Costs

Gilead Sciences Inc. said it now expects to book a loss in 2026 on $11.5 billion in charges after deals to acquire a string of companies making experimental cancer and autoimmune disease drugs.

The planned charges come as the company reported first-quarter earnings and revenue that beat analysts’ expectations on growing HIV drug sales, including a strong initial rollout of a new HIV prevention drug, Yeztugo. For the year, the company said it expects product sales between $30 billion and $30.4 billion, up from its previous guidance of $29.6 billion to $30 billion.