GILD 10-Q

Gilead Sciences, Inc. (GILD)

10-Q 2023-11-07 For: 2023-09-30

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Added on April 11, 2026

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Delaware			94-3047598
(State or Other Jurisdiction of Incorporation or Organization)			(IRS Employer Identification No.)


(in millions, except per share amounts)	September 30, 2023		December 31, 2022
Assets
Current assets:
Cash and cash equivalents	$	5,705	$	5,412
Short-term marketable debt securities	1,159		973
Accounts receivable, net	4,790		4,777
Inventories	1,663		1,507
Prepaid and other current assets	2,662		1,774
Total current assets	15,980		14,443
Property, plant and equipment, net	5,572		5,475
Long-term marketable debt securities	1,156		1,245
Intangible assets, net	27,152		28,894
Goodwill	8,314		8,314
Other long-term assets	4,200		4,800
Total assets	$	62,373	$	63,171
Liabilities and Stockholders’ Equity
Current liabilities:
Accounts payable	$	586	$	905
Accrued rebates	3,714		3,479
Other current liabilities	5,852		4,580
Current portion of long-term debt and other obligations, net	1,793		2,273
Total current liabilities	11,945		11,237
Long-term debt, net	23,189		22,957
Long-term income taxes payable	2,088		3,916
Deferred tax liability	1,984		2,673
Other long-term obligations	924		1,179
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; 1,247 shares issued and outstanding	1		1
Additional paid-in capital	6,279		5,550
Accumulated other comprehensive income	31		2
Retained earnings	16,002		15,687
Total Gilead stockholders’ equity	22,314		21,240
Noncontrolling interest	(72)		(31)
Total stockholders’ equity	22,242		21,209
Total liabilities and stockholders’ equity	$	62,373	$	63,171


	Three Months Ended				Nine Months Ended
	September 30,				September 30,
(in millions, except per share amounts)	2023		2022		2023		2022
Revenues:
Product sales	$	6,994	$	6,978	$	19,864	$	19,650
Royalty, contract and other revenues	56		64		138		242
Total revenues	7,051		7,042		20,002		19,892
Costs and expenses:
Cost of goods sold	1,565		1,395		4,408		4,261
Research and development expenses	1,457		1,149		4,310		3,429
Acquired in-process research and development expenses	91		448		808		786
In-process research and development impairment	—		—		—		2,700
Selling, general and administrative expenses	1,315		1,213		4,482		3,653
Total costs and expenses	4,428		4,205		14,009		14,829
Operating income	2,623		2,837		5,993		5,063
Interest expense	(232)		(229)		(692)		(709)
Other income (expense), net	(72)		(176)		(95)		(571)
Income before income taxes	2,318		2,432		5,206		3,783
Income tax expense	(146)		(646)		(1,010)		(850)
Net income	2,172		1,786		4,196		2,933
Net loss attributable to noncontrolling interest	8		3		40		19
Net income attributable to Gilead	$	2,180	$	1,789	$	4,236	$	2,952
Basic earnings per share attributable to Gilead	$	1.75	$	1.43	$	3.39	$	2.35
Shares used in basic earnings per share attributable to Gilead calculation	1,248		1,255		1,249		1,255
Diluted earnings per share attributable to Gilead	$	1.73	$	1.42	$	3.37	$	2.34
Shares used in diluted earnings per share attributable to Gilead calculation	1,257		1,261		1,259		1,261


	Three Months Ended				Nine Months Ended
	September 30,				September 30,
(in millions)	2023		2022		2023		2022
Net income	$	2,172	$	1,786	$	4,196	$	2,933
Other comprehensive income, net:
Net foreign currency translation loss	(35)		(81)		(3)		(102)
Available-for-sale debt securities:
Net unrealized gain (loss), net of tax impact of $0, $0, $0 and $0, respectively	4		(7)		10		(38)
Reclassifications to net income, net of tax impact of $0, $0, $0 and $0, respectively	—		—		2		1
Net change	5		(7)		11		(37)
Cash flow hedges:
Net unrealized gain, net of tax impact of $9, $21, $9 and $37, respectively	66		140		65		254
Reclassifications to net income, net of tax impact of $2, $7, $6 and $15, respectively	(14)		(41)		(44)		(100)
Net change	51		99		21		154
Other comprehensive income, net	21		11		30		15
Comprehensive income, net	2,193		1,797		4,226		2,948
Comprehensive loss attributable to noncontrolling interest, net	8		3		40		19
Comprehensive income attributable to Gilead, net	$	2,201	$	1,800	$	4,265	$	2,967


	Three Months Ended September 30, 2023
(in millions, except per share amounts)	Gilead Stockholders’ Equity									Noncontrolling Interest		Total Stockholders’ Equity
	Common Stock			Additional Paid-In Capital		Accumulated Other Comprehensive Income		Retained Earnings
	Shares	Amount
Balance as of June 30, 2023	1,247	$	1	$	6,008	$	10	$	15,138	$	(64)	$	21,094
Net income (loss)	—	—		—		—		2,180		(8)		2,172
Other comprehensive income, net	—	—		—		21		—		—		21
Issuances under employee stock purchase plan	1	—		62		—		—		—		62
Issuances under equity incentive plans	4	—		21		—		—		—		21
Stock-based compensation	—	—		202		—		—		—		202
Repurchases of common stock under repurchase programs ($77.08 average price per share)	(4)	—		(14)		—		(286)		—		(300)
Repurchases of common stock for employee tax withholding under equity incentive plans and other	(1)	—		—		—		(77)		—		(77)
Dividends declared ($0.75 per share)	—	—		—		—		(953)		—		(953)
Balance as of September 30, 2023	1,247	$	1	$	6,279	$	31	$	16,002	$	(72)	$	22,242


☒			QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934


☐			TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934


	Nine Months Ended September 30, 2023
(in millions, except per share amounts)	Gilead Stockholders’ Equity									Noncontrolling Interest		Total Stockholders’ Equity
	Common Stock			Additional Paid-In Capital		Accumulated Other Comprehensive Income		Retained Earnings
	Shares	Amount
Balance as of December 31, 2022	1,247	$	1	$	5,550	$	2	$	15,687	$	(31)	$	21,209
Net income (loss)	—	—		—		—		4,236		(40)		4,196
Other comprehensive income, net	—	—		—		30		—		—		30
Issuances under employee stock purchase plan	2	—		129		—		—		—		129
Issuances under equity incentive plans	11	—		71		—		—		—		71
Stock-based compensation	—	—		566		—		—		—		566
Repurchases of common stock under repurchase programs ($79.92 average price per share)	(11)	—		(38)		—		(812)		—		(850)
Repurchases of common stock for employee tax withholding under equity incentive plans and other	(3)	—		—		—		(245)		—		(245)
Dividends declared ($2.25 per share)	—	—		—		—		(2,864)		—		(2,864)
Balance as of September 30, 2023	1,247	$	1	$	6,279	$	31	$	16,002	$	(72)	$	22,242


	Three Months Ended September 30, 2022
(in millions, except per share amounts)	Gilead Stockholders’ Equity									Noncontrolling Interest		Total Stockholders’ Equity
	Common Stock			Additional Paid-In Capital		Accumulated Other Comprehensive Income		Retained Earnings
	Shares	Amount
Balance as of June 30, 2022	1,254	$	1	$	5,031	$	87	$	15,117	$	(21)	$	20,215
Net income (loss)	—	—		—		—		1,789		(3)		1,786
Other comprehensive income, net	—	—		—		11		—		—		11
Issuances under employee stock purchase plan	2	—		30		—		—		—		30
Issuances under equity incentive plans	2	—		6		—		—		—		6
Stock-based compensation	—	—		170		—		—		—		170
Repurchases of common stock under repurchase programs ($63.10 average price per share)	(3)	—		(11)		—		(171)		—		(182)
Repurchases of common stock for employee tax withholding under equity incentive plans	(1)	—		—		—		(46)		—		(46)
Dividends declared ($0.73 per share)	—	—		—		—		(933)		—		(933)
Balance as of September 30, 2022	1,254	$	1	$	5,226	$	98	$	15,756	$	(24)	$	21,057


	Nine Months Ended September 30, 2022
(in millions, except per share amounts)	Gilead Stockholders’ Equity									Noncontrolling Interest		Total Stockholders’ Equity
	Common Stock			Additional Paid-In Capital		Accumulated Other Comprehensive Income		Retained Earnings
	Shares	Amount
Balance as of December 31, 2021	1,254	$	1	$	4,661	$	83	$	16,324	$	(5)	$	21,064
Net income (loss)	—	—		—		—		2,952		(19)		2,933
Other comprehensive income, net	—	—		—		15		—		—		15
Issuances under employee stock purchase plan	3	—		103		—		—		—		103
Issuances under equity incentive plans	9	—		30		—		—		—		30
Stock-based compensation	—	—		465		—		—		—		465
Repurchases of common stock under repurchase programs ($63.34 average price per share)	(10)	—		(33)		—		(572)		—		(605)
Repurchases of common stock for employee tax withholding under equity incentive plans	(2)	—		—		—		(151)		—		(151)
Dividends declared ($2.19 per share)	—	—		—		—		(2,797)		—		(2,797)
Balance as of September 30, 2022	1,254	$	1	$	5,226	$	98	$	15,756	$	(24)	$	21,057


	September 30, 2023
	Less Than 12 Months				12 Months or Longer				Total
(in millions)	Gross Unrealized Losses		Estimated Fair Value		Gross Unrealized Losses		Estimated Fair Value		Gross Unrealized Losses		Estimated Fair Value
U.S. treasury securities	$	(1)	$	261	$	(1)	$	71	$	(3)	$	332
U.S. government agencies securities	(1)		150		—		2		(1)		152
Non-U.S. government securities	—		5		—		5		—		10
Corporate debt securities	(4)		549		(13)		642		(17)		1,191
Residential mortgage and asset-backed securities	(1)		273		—		42		(1)		315
Total	$	(7)	$	1,238	$	(14)	$	761	$	(21)	$	2,000


	September 30, 2023
(in millions)	Amortized Cost		Fair Value
Within one year	$	1,233	$	1,226
After one year through five years	1,161		1,147
After five years through ten years	6		6
After ten years	3		3
Total	$	2,403	$	2,382


	September 30, 2023
	Derivative Assets			Derivative Liabilities
(in millions)	Classification	Fair Value		Classification	Fair Value
Derivatives designated as hedges:
Foreign currency exchange contracts	Prepaid and other current assets	$	57	Other current liabilities	$	7
Foreign currency exchange contracts	Other long-term assets	10		Other long-term obligations	—
Total derivatives designated as hedges		67			7
Derivatives not designated as hedges:
Foreign currency exchange contracts	Prepaid and other current assets	—		Other current liabilities	1
Total derivatives not designated as hedges		—			1
Total derivatives presented gross on the Condensed Consolidated Balance Sheets		$	67		$	8

Gross amounts not offset on the Condensed Consolidated Balance Sheets:
Derivative financial instruments		(8)			(8)
Cash collateral received / pledged		—			—
Net amount (legal offset)		$	59		$	—


(in millions)	Amount
2023 (remaining three months)	$	598
2024	2,392
2025	2,386
2026	2,378
2027	2,378
Thereafter	9,900
Total	$	20,032


(in millions)	Foreign Currency Translation		Unrealized Gains and Losses on Available-for-Sale Debt Securities, Net of Tax		Unrealized Gains and Losses on Cash Flow Hedges, Net of Tax		Total
Balance as of December 31, 2022	$	2	$	(33)	$	33	$	2
Net unrealized gain (loss)	(3)		10		65		72
Reclassifications to net income	—		2		(44)		(42)
Net current period other comprehensive income (loss)	(3)		11		21		30
Balance as of September 30, 2023	$	(1)	$	(22)	$	54	$	31


	Three Months Ended September 30, 2023								Three Months Ended September 30, 2022
(in millions)	U.S.		Europe		Other International		Total		U.S.		Europe		Other International		Total
Product sales:
HIV
Biktarvy	$	2,504	$	313	$	268	$	3,085	$	2,286	$	278	$	201	$	2,766
Complera/Eviplera	13		18		3		34		20		21		3		43
Descovy	460		25		26		511		444		28		28		500
Genvoya	433		47		23		503		502		71		27		600
Odefsey	257		74		11		343		276		86		12		374
Stribild	18		5		2		25		22		7		3		32
Truvada	15		3		4		22		24		3		2		30
Revenue share - Symtuza(1)	96		32		3		131		85		40		4		130
Other HIV(2)	10		3		—		13		1		6		5		12
Total HIV	3,807		519		341		4,667		3,661		541		285		4,487
Oncology
Cell Therapy
Tecartus	64		27		4		96		60		20		1		81
Yescarta	197		154		40		391		210		91		16		317
Total Cell Therapy	261		181		45		486		270		111		17		398

Trodelvy	201		62		21		283		139		38		3		180
Total Oncology	462		243		65		769		409		149		20		578
Liver Disease
Chronic hepatitis C virus (“HCV”)
Ledipasvir/Sofosbuvir(3)	17		2		4		23		8		5		12		25
Sofosbuvir/Velpatasvir(4)	215		76		85		377		241		131		84		455
Other HCV(5)	28		7		3		38		34		7		2		44
Total HCV	260		85		93		438		283		143		98		524

Chronic hepatitis B virus (“HBV”) / Chronic hepatitis delta virus (“HDV”)
Vemlidy	112		9		106		228		129		9		90		228
Viread	4		5		12		21		2		5		15		22
Other HBV/HDV(6)	—		19		—		20		—		13		—		14
Total HBV/HDV	116		34		119		269		131		28		106		264
Total Liver Disease	376		119		211		706		413		170		204		788

Veklury	258		65		313		636		336		130		458		925
Other
AmBisome	12		63		39		115		9		63		33		105


	Nine Months Ended September 30, 2023								Nine Months Ended September 30, 2022
(in millions)	U.S.		Europe		Other International		Total		U.S.		Europe		Other International		Total
Product sales:
HIV
Biktarvy	$	7,104	$	920	$	717	$	8,741	$	6,088	$	807	$	577	$	7,472
Complera/Eviplera	40		55		9		104		56		76		10		142
Descovy	1,314		75		86		1,475		1,152		92		91		1,335
Genvoya	1,305		157		81		1,544		1,441		220		103		1,764
Odefsey	754		223		33		1,011		763		278		36		1,077
Stribild	57		16		6		79		68		23		7		98
Truvada	71		10		16		97		77		12		13		102
Revenue share - Symtuza(1)	278		101		10		390		251		126		10		388
Other HIV(2)	24		11		6		41		11		20		15		45
Total HIV	10,949		1,568		965		13,482		9,906		1,653		863		12,422
Oncology
Cell Therapy
Tecartus	179		83		11		272		160		56		2		217
Yescarta	624		408		99		1,130		528		253		42		823
Total Cell Therapy	802		491		109		1,402		688		308		44		1,040

Trodelvy	551		169		44		764		379		98		8		485
Total Oncology	1,354		660		153		2,167		1,067		407		52		1,525
Liver Disease
HCV
Ledipasvir/Sofosbuvir(3)	29		11		14		54		27		13		43		83
Sofosbuvir/Velpatasvir(4)	643		250		266		1,159		629		288		244		1,161
Other HCV(5)	80		33		10		123		88		31		7		127
Total HCV	751		294		289		1,335		745		332		294		1,371

HBV/HDV
Vemlidy	295		28		322		645		306		27		289		622
Viread	4		17		40		62		4		17		48		69
Other HBV/HDV(6)	—		50		—		51		1		41		—		42
Total HBV/HDV	299		96		363		758		311		85		337		733
Total Liver Disease	1,051		390		652		2,093		1,056		417		631		2,104

Veklury	607		227		630		1,465		1,179		560		1,166		2,905
Other
AmBisome	39		192		150		381		48		192		140		380


	September 30, 2023								December 31, 2022
(in millions)	Gross Carrying Amount		Accumulated Amortization		Foreign Currency Translation Adjustment		Net Carrying Amount		Gross Carrying Amount		Accumulated Amortization		Foreign Currency Translation Adjustment		Net Carrying Amount
Finite-lived assets:
Intangible asset – sofosbuvir	$	10,720	$	(6,875)	$	—	$	3,845	$	10,720	$	(6,350)	$	—	$	4,370
Intangible asset – axicabtagene ciloleucel	7,110		(2,213)		—		4,897		7,110		(1,908)		—		5,202
Intangible asset – Trodelvy(1)	11,730		(1,732)		—		9,998		5,630		(973)		—		4,657
Intangible asset – Hepcludex	845		(222)		—		623		845		(158)		—		687
Other	1,489		(822)		1		668		1,489		(733)		1		758
Total finite-lived assets	31,894		(11,863)		1		20,032		25,794		(10,121)		1		15,674
Indefinite-lived assets – IPR&D(1)	7,120		—		—		7,120		13,220		—		—		13,220
Total intangible assets	$	39,014	$	(11,863)	$	1	$	27,152	$	39,014	$	(10,121)	$	1	$	28,894


(in millions)	September 30, 2023		December 31, 2022
Raw materials	$	1,266	$	1,177
Work in process	614		577
Finished goods	1,323		1,066
Total	$	3,202	$	2,820
Reported as:
Inventories	$	1,663	$	1,507
Other long-term assets(1)	1,539		1,313
Total	$	3,202	$	2,820


(in millions)				Carrying Amount
Type of Borrowing	Issue Date	Maturity Date	Interest Rate	September 30, 2023		December 31, 2022
Senior Unsecured	September 2016	September 2023	2.50%	$	—	$	749
Senior Unsecured	September 2020	September 2023	0.75%	—		1,498
Senior Unsecured	March 2014	April 2024	3.70%	1,749		1,748
Senior Unsecured	November 2014	February 2025	3.50%	1,749		1,748
Senior Unsecured	September 2015	March 2026	3.65%	2,744		2,742
Senior Unsecured	September 2016	March 2027	2.95%	1,248		1,247
Senior Unsecured	September 2020	October 2027	1.20%	747		747
Senior Unsecured	September 2020	October 2030	1.65%	994		993
Senior Unsecured	September 2023	October 2033	5.25%	992		—
Senior Unsecured	September 2015	September 2035	4.60%	993		993
Senior Unsecured	September 2016	September 2036	4.00%	743		742
Senior Unsecured	September 2020	October 2040	2.60%	988		988
Senior Unsecured	December 2011	December 2041	5.65%	996		996
Senior Unsecured	March 2014	April 2044	4.80%	1,737		1,736
Senior Unsecured	November 2014	February 2045	4.50%	1,734		1,733
Senior Unsecured	September 2015	March 2046	4.75%	2,222		2,221
Senior Unsecured	September 2016	March 2047	4.15%	1,729		1,728
Senior Unsecured	September 2020	October 2050	2.80%	1,478		1,477
Senior Unsecured	September 2023	October 2053	5.55%	988		—
Total senior unsecured notes				23,830		24,088
Liability related to future royalties				1,152		1,141
Total debt, net				24,982		25,229
Less: Current portion of long-term debt and other obligations, net				1,793		2,273
Total Long-term debt, net				$	23,189	$	22,957


	Three Months Ended September 30, 2023								Three Months Ended September 30, 2022
(in millions, except percentages)	U.S.		Europe		Other International		Total		U.S.		Europe		Other International		Total		Change
Product sales:
HIV	$	3,807	$	519	$	341	$	4,667	$	3,661	$	541	$	285	$	4,487	4	%
Oncology	462		243		65		769		409		149		20		578		33	%
Cell Therapy	261		181		45		486		270		111		17		398		22	%
Trodelvy	201		62		21		283		139		38		3		180		58	%
Liver Disease	376		119		211		706		413		170		204		788		(10)	%
HCV (1)	260		85		93		438		283		143		98		524		(16)	%
HBV / HDV	116		34		119		269		131		28		106		264		2	%
Veklury	258		65		313		636		336		130		458		925		(31)	%
Other	82		72		62		216		80		75		46		200		8	%
Total product sales	4,985		1,017		992		6,994		4,900		1,064		1,013		6,978		—	%
Royalty, contract and other revenues	32		23		1		56		28		37		—		64		(13)	%
Total revenues	$	5,017	$	1,040	$	993	$	7,051	$	4,928	$	1,101	$	1,013	$	7,042	—	%


	Total Number of Shares Purchased (in thousands)		Average Price Paid per Share		Total Number of Shares Purchased as Part of a Publicly Announced Program (in thousands)		Maximum Fair Value of Shares that May Yet Be Purchased Under the 2020 Program (in millions)
July 1 - July 31, 2023	1,285		$	77.25	1,229		$	4,229
August 1 - August 31, 2023	2,087		$	78.45	1,478		$	4,114
September 1 - September 30, 2023	1,504		$	75.90	1,186		$	4,024
Total	4,876	(1)	$	77.35	3,893	(1)


Exhibit Footnote	Exhibit Number	Description of Document
(1)	3.1	Restated Certificate of Incorporation of Registrant

(2)	3.2	Amended and Restated Bylaws of Registrant

	4.1	Reference is made to Exhibit 3.1 and Exhibit 3.2

(3)	4.2	Indenture related to Senior Notes, dated as of March 30, 2011, between Registrant and Wells Fargo, National Association, as Trustee

(3)	4.3	First Supplemental Indenture related to Senior Notes, dated as of March 30, 2011, between Registrant and Wells Fargo, National Association, as Trustee (including form of Senior Notes)

(4)	4.4	Second Supplemental Indenture related to Senior Notes, dated as of December 13, 2011, between Registrant and Wells Fargo, National Association, as Trustee (including Form of 2041 Note)

(5)	4.5	Third Supplemental Indenture related to Senior Notes, dated as of March 7, 2014, between Registrant and Wells Fargo, National Association, as Trustee (including Form of 2024 Note and Form of 2044 Note)

(6)	4.6	Fourth Supplemental Indenture related to Senior Notes, dated as of November 17, 2014, between Registrant and Wells Fargo, National Association, as Trustee (including Form of 2025 Note and Form of 2045 Note)

(7)	4.7	Fifth Supplemental Indenture, dated as of September 14, 2015, between Registrant and Wells Fargo Bank, National Association, as Trustee (including Form of 2026 Note, Form of 2035 Note and Form of 2046 Note)

(8)	4.8	Sixth Supplemental Indenture, dated as of September 20, 2016, between Registrant and Wells Fargo Bank, National Association, as Trustee (including Form of 2027 Note, Form of 2036 Note and Form of 2047 Note)

(9)	4.9	Eighth Supplemental Indenture, dated as of September 30, 2020, between the Registrant and Wells Fargo Bank, National Association, as Trustee (including Form of 2027 Note, Form of 2030 Note, Form of 2040 Note, and Form of 2050 Note )

(10)	4.1	Ninth Supplemental Indenture, dated as of September 14, 2023, between the Registrant and Computershare Trust Company, National Association, as successor to Wells Fargo Bank, National Association, as Trustee (including Form of 2033 Note and Form of 2053 Note)

(11)	4.10	Description of Registrant’s Securities

(12)	10.1*	Gilead Sciences, Inc. 2004 Equity Incentive Plan, amended and restated May 10, 2017

(13)	10.2*	Amendment No. 1 to Gilead Sciences, Inc. 2004 Equity Incentive Plan, amended and restated May 10, 2017

(14)	10.3*	Gilead Sciences, Inc. 2022 Equity Incentive Plan

(15)	10.4*	Form of employee stock option agreement under 2004 Equity Incentive Plan (for grants made in 2011 through 2018)

(16)	10.5*	Form of employee stock option agreement under 2004 Equity Incentive Plan (for grants made in 2019)

(17)	10.6*	Form of global employee stock option agreement under 2004 Equity Incentive Plan (4 year vest) (for grants made in 2019)

(18)	10.7*	Form of global employee stock option agreement under 2004 Equity Incentive Plan (4 year vest) (for grants made in 2020)

(19)	10.8*	Form of global employee stock option agreement under 2004 Equity Incentive Plan (4 year vest) (for grants made in 2021)

(20)	10.9*	Form of global employee stock option agreement under 2004 Equity Incentive Plan (4 year vest) (for certain grants made in 2022)

(21)	10.10*	Form of global employee stock option agreement under 2022 Equity Incentive Plan (4 year vest) (for certain grants made in 2022)

(22)	10.11*	Form of global employee stock option agreement under 2022 Equity Incentive Plan (4 year vest) (for certain grants commencing in 2023)

(23)	10.12*	Form of non-employee director stock option agreement under 2004 Equity Incentive Plan (for grants made in 2014 through 2018)

(16)	10.13*	Form of non-employee director stock option agreement under 2004 Equity Incentive Plan (for grants made in 2019)

(24)	10.14*	Form of non-employee director stock option agreement under 2004 Equity Incentive Plan (for grants made in 2020 and 2021)

(21)	10.15*	Form of non-employee director stock option agreement under 2022 Equity Incentive Plan (for grants made in 2022)

(25)	10.16*	Form of non-employee director stock option agreement under 2022 Equity Incentive Plan (for grants commencing in 2023)

(18)	10.17*	Form of performance share award agreement - TSR Goals (U.S.) under 2004 Equity Incentive Plan (for grants made in 2020)

(19)	10.18*	Form of performance share award agreement - TSR Goals (U.S.) under 2004 Equity Incentive Plan (for grants made in 2021)

(20)	10.19*	Form of performance share award agreement - TSR Goals (U.S.) under 2004 Equity Incentive Plan (for grants made in 2022)

(22)	10.20*	Form of performance share award agreement - TSR Goals (U.S.) under 2022 Equity Incentive Plan (for grants commencing in 2023)

(18)	10.21*	Form of performance share award agreement - Revenue Goals (U.S.) under 2004 Equity Incentive Plan (for grants made in 2020)

(19)	10.22*	Form of performance share award agreement - Revenue Goals (U.S.) under 2004 Equity Incentive Plan (for grants made in 2021)

(20)	10.23*	Form of performance share award agreement - Revenue Goals (U.S.) under 2004 Equity Incentive Plan (for grants made in 2022)


		GILEAD SCIENCES, INC.
		(Registrant)

Date:	November 7, 2023	/s/ DANIEL P. O’DAY
		Daniel P. O’Day Chairman and Chief Executive Officer (Principal Executive Officer)

Date:	November 7, 2023	/s/ ANDREW D. DICKINSON
		Andrew D. Dickinson Chief Financial Officer (Principal Financial Officer)