Gilead Sciences, Inc 10-Q for FY2025 Q2

Gilead Sciences, Inc. (GILD)

10-Q 2025-08-07 For: 2025-06-30

Added on April 11, 2026

About this 10-Q

Gilead Sciences, Inc filed this 10-Q on August 7, 2025, covering the quarter ended June 30, 2025 (FY2025 Q2).

Headline figures

Quarter ended June 30, 2025, as reported in this filing, compared with the same period a year earlier where the filing states it.

Revenue: $7.08B; up 1.8% from $6.95B a year earlier
Net income: $1.96B; up 21.4% from net income of $1.61B a year earlier
Diluted EPS: $1.56; up 20.9% from $1.29 a year earlier

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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)	June 30, 2025		December 31, 2024
Assets
Current assets:
Cash and cash equivalents	$	5,144	$	9,991
Short-term marketable debt securities	69		—
Accounts receivable, net	4,781		4,420
Inventories	1,825		1,710
Prepaid and other current assets	2,899		3,052
Total current assets	14,718		19,173
Property, plant and equipment, net	5,459		5,414
Long-term marketable debt securities	1,913		—
Intangible assets, net	18,566		19,948
Goodwill	8,314		8,314
Deferred tax assets	2,721		2,378
Other long-term assets	4,031		3,769
Total assets	$	55,721	$	58,995
Liabilities and Stockholders’ Equity
Current liabilities:
Accounts payable	$	582	$	833
Accrued rebates	4,215		3,892
Current portion of long-term debt, net	2,806		1,815
Other current liabilities	3,586		5,464
Total current liabilities	11,189		12,004
Long-term debt, net	22,140		24,896
Long-term income taxes payable	859		830
Deferred tax liabilities	652		724
Other long-term liabilities	1,290		1,295
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; 1,242 and 1,246 shares issued and outstanding, respectively	1		1
Additional paid-in capital	8,367		7,700
Accumulated other comprehensive (loss) income	(18)		132
Retained earnings	11,325		11,497
Total Gilead stockholders’ equity	19,674		19,330
Noncontrolling interest	(84)		(84)
Total stockholders’ equity	19,590		19,246
Total liabilities and stockholders’ equity	$	55,721	$	58,995


	Three Months Ended				Six Months Ended
	June 30,				June 30,
(in millions, except per share amounts)	2025		2024		2025		2024
Revenues:
Product sales	$	7,054	$	6,912	$	13,668	$	13,559
Royalty, contract and other revenues	27		41		81		81
Total revenues	7,082		6,954		13,749		13,640
Costs and expenses:
Cost of goods sold	1,501		1,544		3,041		3,096
Research and development expenses	1,491		1,351		2,870		2,871
Acquired in-process research and development expenses	61		38		315		4,169
In-process research and development impairments	190		—		190		2,430
Selling, general and administrative expenses	1,365		1,377		2,623		2,752
Total costs and expenses	4,608		4,309		9,038		15,317
Operating income (loss)	2,474		2,644		4,711		(1,678)
Interest expense	254		237		513		491
Other (income) expense, net	(208)		355		120		265
Income (loss) before income taxes	2,429		2,053		4,077		(2,433)
Income tax expense	468		438		802		123
Net income (loss)	1,960		1,614		3,275		(2,556)
Net income attributable to noncontrolling interest	—		—		—		—
Net income (loss) attributable to Gilead	$	1,960	$	1,614	$	3,275	$	(2,556)

Basic earnings (loss) per share attributable to Gilead	$	1.57	$	1.29	$	2.63	$	(2.05)
Diluted earnings (loss) per share attributable to Gilead	$	1.56	$	1.29	$	2.61	$	(2.05)

Shares used in basic earnings (loss) per share attributable to Gilead calculation	1,245		1,247		1,246		1,247
Shares used in diluted earnings (loss) per share attributable to Gilead calculation	1,255		1,251		1,257		1,247


	Three Months Ended				Six Months Ended
	June 30,				June 30,
(in millions)	2025		2024		2025		2024
Net income (loss):	$	1,960	$	1,614	$	3,275	$	(2,556)
Other comprehensive (loss) income, net of reclassifications and taxes:
Net gain (loss) on foreign currency translation	51		1		69		(16)
Net gain on available-for-sale debt securities	4		—		4		5
Net (loss) gain on cash flow hedges	(166)		23		(224)		77
Other comprehensive (loss) income, net	(111)		24		(150)		65
Comprehensive income (loss), net	1,850		1,639		3,125		(2,491)
Comprehensive income attributable to noncontrolling interest, net	—		—		—		—
Comprehensive income (loss) attributable to Gilead, net	$	1,850	$	1,639	$	3,125	$	(2,491)


	Three Months Ended June 30, 2025
(in millions, except per share amounts)	Gilead Stockholders' Equity									Noncontrolling Interest		Total Stockholders' Equity
	Common Stock			Additional Paid-In Capital		Accumulated Other Comprehensive Income (Loss)		Retained Earnings
	Shares	Amount
Balance as of March 31, 2025	1,245	$	1	$	8,138	$	92	$	10,931	$	(84)	$	19,078
Net income	—	—		—		—		1,960		—		1,960
Other comprehensive loss, net	—	—		—		(111)		—		—		(111)
Issuances under equity incentive plans	2	—		24		—		—		—		24
Stock-based compensation	—	—		226		—		—		—		226
Repurchases of common stock under repurchase programs ($105.88 average price per share)	(5)	—		(21)		—		(506)		—		(527)
Repurchases of common stock for employee tax withholding under equity incentive plans and other	(1)	—		—		—		(64)		—		(64)
Dividends declared ($0.79 per share)	—	—		—		—		(997)		—		(997)
Balance as of June 30, 2025	1,242	$	1	$	8,367	$	(18)	$	11,325	$	(84)	$	19,590


☒			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


	Six Months Ended June 30, 2025
(in millions, except per share amounts)	Gilead Stockholders' Equity									Noncontrolling Interest		Total Stockholders' Equity
	Common Stock			Additional Paid-In Capital		Accumulated Other Comprehensive Income (Loss)		Retained Earnings
	Shares	Amount
Balance as of December 31, 2024	1,246	$	1	$	7,700	$	132	$	11,497	$	(84)	$	19,246
Net income	—	—		—		—		3,275		—		3,275
Other comprehensive loss, net	—	—		—		(150)		—		—		(150)
Issuances under employee stock purchase plan	1	—		82		—		—		—		82
Issuances under equity incentive plans	9	—		199		—		—		—		199
Stock-based compensation	—	—		436		—		—		—		436
Repurchases of common stock under repurchase programs ($103.87 average price per share)	(12)	—		(50)		—		(1,207)		—		(1,257)
Repurchases of common stock for employee tax withholding under equity incentive plans and other	(2)	—		—		—		(240)		—		(240)
Dividends declared ($1.58 per share)	—	—		—		—		(2,001)		—		(2,001)
Balance as of June 30, 2025	1,242	$	1	$	8,367	$	(18)	$	11,325	$	(84)	$	19,590


	Three Months Ended June 30, 2024
(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 March 31, 2024	1,246	$	1	$	6,813	$	69	$	10,656	$	(84)	$	17,455
Net income	—	—		—		—		1,614		—		1,614
Other comprehensive income, net	—	—		—		24		—		—		24
Issuances under equity incentive plans	2	—		5		—		—		—		5
Stock-based compensation	—	—		209		—		—		—		209
Repurchases of common stock under repurchase programs ($66.67 average price per share)	(2)	—		(6)		—		(94)		—		(100)
Repurchases of common stock for employee tax withholding under equity incentive plans and other	(1)	—		—		—		(33)		—		(33)
Dividends declared ($0.77 per share)	—	—		—		—		(978)		—		(978)
Balance as of June 30, 2024	1,246	$	1	$	7,022	$	93	$	11,165	$	(84)	$	18,197


	Six Months Ended June 30, 2024
(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, 2023	1,246	$	1	$	6,500	$	28	$	16,304	$	(84)	$	22,749
Net loss	—	—		—		—		(2,556)		—		(2,556)
Other comprehensive income, net	—	—		—		65		—		—		65
Issuances under employee stock purchase plan	1	—		80		—		—		—		80
Issuances under equity incentive plans	7	—		70		—		—		—		70
Stock-based compensation	—	—		397		—		—		—		397
Repurchases of common stock under repurchase programs ($74.59 average price per share)	(7)	—		(25)		—		(475)		—		(500)
Repurchases of common stock for employee tax withholding under equity incentive plans and other	(2)	—		—		—		(150)		—		(150)
Dividends declared ($1.54 per share)	—	—		—		—		(1,958)		—		(1,958)
Balance as of June 30, 2024	1,246	$	1	$	7,022	$	93	$	11,165	$	(84)	$	18,197


	June 30, 2025
(in millions)	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Estimated Fair Value
U.S. treasury securities	$	691	$	1	$	(1)	$	692
U.S. government agencies securities	10		—		—		10
Corporate debt securities	987		4		—		991
Residential mortgage and asset-backed securities	299		1		—		300
Total	$	1,987	$	6	$	(1)	$	1,992


	June 30, 2025
	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)	$	338	$	—	$	—	$	(1)	$	338
U.S. government agencies securities	—		10		—		—		—		10
Corporate debt securities	—		121		—		—		—		121
Residential mortgage and asset-backed securities	—		51		—		—		—		51
Total	$	(1)	$	519	$	—	$	—	$	(1)	$	519


(in millions)	Foreign Currency Translation		Available-for-Sale Debt Securities		Cash Flow Hedges		Total
Balance as of March 31, 2025	$	54	$	—	$	38	$	92
Net unrealized gain (loss), net of income tax expense (benefit) of $0, $1, and $(21), respectively	51		4		(149)		(94)
Gain reclassified to net income, net of income tax expense of $0, $0, and $2, respectively	—		—		(16)		(16)
Other comprehensive income (loss), net	51		4		(166)		(111)
Balance as of June 30, 2025	$	105	$	4	$	(127)	$	(18)


(in millions)				Carrying Amount
Type of Borrowing	Issue Date	Maturity Date	Interest Rate	June 30, 2025		December 31, 2024
Senior Unsecured	November 2014	February 2025	3.50%	$	—	$	1,750
Senior Unsecured	September 2015	March 2026	3.65%	2,748		2,747
Senior Unsecured	September 2016	March 2027	2.95%	1,249		1,249
Senior Unsecured	September 2020	October 2027	1.20%	748		748
Senior Unsecured	November 2024	November 2029	4.80%	747		746
Senior Unsecured	September 2020	October 2030	1.65%	996		995
Senior Unsecured	September 2023	October 2033	5.25%	993		993
Senior Unsecured	November 2024	June 2035	5.10%	991		991
Senior Unsecured	September 2015	September 2035	4.60%	994		994
Senior Unsecured	September 2016	September 2036	4.00%	744		744
Senior Unsecured	September 2020	October 2040	2.60%	989		989
Senior Unsecured	December 2011	December 2041	5.65%	997		997
Senior Unsecured	March 2014	April 2044	4.80%	1,738		1,738
Senior Unsecured	November 2014	February 2045	4.50%	1,735		1,735
Senior Unsecured	September 2015	March 2046	4.75%	2,224		2,224
Senior Unsecured	September 2016	March 2047	4.15%	1,730		1,730
Senior Unsecured	September 2020	October 2050	2.80%	1,479		1,479
Senior Unsecured	September 2023	October 2053	5.55%	988		988
Senior Unsecured	November 2024	November 2054	5.50%	989		989
Senior Unsecured	November 2024	November 2064	5.60%	739		738
Total senior unsecured notes				23,819		25,562
Liability related to future royalties				1,127		1,148
Total debt, net				24,946		26,710
Less: Current portion of long-term debt, net				2,806		1,815
Total Long-term debt, net				$	22,140	$	24,896


	Three Months Ended June 30, 2025								Three Months Ended June 30, 2024
(in millions, except percentages)	U.S.		Europe		Rest of World		Total		U.S.		Europe		Rest of World		Total		Change
Product sales:
HIV
Biktarvy	$	2,799	$	429	$	302	$	3,530	$	2,585	$	370	$	277	$	3,232	9	%
Descovy	601		24		28		653		434		25		26		485		35	%
Genvoya	322		40		16		377		372		45		23		440		(14)	%
Odefsey	221		66		11		298		233		72		10		315		(5)	%
Symtuza - Revenue share(1)	88		33		3		124		131		34		3		168		(26)	%
Other HIV(2)	65		33		9		107		65		25		15		105		2	%
Total HIV	4,096		624		368		5,088		3,821		571		353		4,745		7	%

Liver Disease
Sofosbuvir/Velpatasvir(3)	184		81		76		342		267		84		126		476		(28)	%
Vemlidy	122		13		117		252		117		11		115		243		4	%
Other Liver Disease(4)	106		76		19		201		47		47		19		113		77	%
Total Liver Disease	413		170		211		795		431		142		259		832		(4)	%

Veklury	51		19		50		121		76		53		85		214		(44)	%

Oncology
Cell Therapy
Tecartus	41		41		9		92		63		37		7		107		(14)	%
Yescarta	162		154		77		393		186		169		58		414		(5)	%
Total Cell Therapy	203		196		86		485		250		206		66		521		(7)	%

Trodelvy	224		96		44		364		224		69		26		320		14	%
Total Oncology	427		291		131		849		474		275		92		841		1	%

Other
AmBisome	7		65		56		129		17		69		65		151		(14)	%
Other(5)	44		8		21		73		98		8		24		130		(44)	%
Total Other	52		73		77		202		115		77		88		280		(28)	%
Total product sales	5,038		1,178		838		7,054		4,916		1,118		878		6,912		2	%
Royalty, contract and other revenues	13		10		4		27		25		15		1		41		(34)	%
Total revenues	$	5,051	$	1,189	$	842	$	7,082	$	4,941	$	1,133	$	879	$	6,954	2	%


	Six Months Ended June 30, 2025								Six Months Ended June 30, 2024
(in millions)	U.S.		Europe		Rest of World		Total		U.S.		Europe		Rest of World		Total
Product sales:
HIV
Biktarvy	$	5,272	$	804	$	603	$	6,679	$	4,900	$	735	$	542	$	6,177
Descovy	1,139		45		55		1,239		805		51		55		911
Genvoya	627		79		35		741		704		95		44		843
Odefsey	436		123		20		579		457		148		21		626
Symtuza - Revenue share(1)	170		62		6		238		236		67		6		309
Other HIV(2)	115		63		19		198		125		70		27		222
Total HIV	7,760		1,177		738		9,675		7,226		1,167		695		9,088

Liver Disease
Sofosbuvir/Velpatasvir(3)	351		161		175		687		515		163		203		881
Vemlidy	222		24		257		504		212		22		233		467
Other Liver Disease(4)	175		152		35		362		89		94		38		221
Total Liver Disease	748		338		467		1,553		816		279		474		1,569

Veklury	250		41		132		423		391		123		255		769

Oncology
Cell Therapy
Tecartus	82		72		17		171		118		73		16		207
Yescarta	321		304		154		779		357		327		110		794
Total Cell Therapy	403		376		171		949		475		400		126		1,001

Trodelvy	405		171		81		657		429		137		62		628
Total Oncology	808		547		252		1,606		904		537		188		1,629

Other
AmBisome	13		132		123		268		31		139		124		294
Other(5)	91		16		35		143		156		18		36		209
Total Other	104		149		158		410		188		156		160		504
Total product sales	9,669		2,251		1,747		13,668		9,525		2,262		1,772		13,559
Royalty, contract and other revenues	49		21		10		81		49		30		2		81
Total revenues	$	9,719	$	2,273	$	1,757	$	13,749	$	9,574	$	2,292	$	1,774	$	13,640


	Three Months Ended				Six Months Ended
	June 30,				June 30,
(in millions)	2025		2024		2025		2024
Beginning balance	$	216	$	222	$	206	$	228
Changes in valuation assumptions(1)	35		(10)		37		(11)
Effect of foreign exchange remeasurement(2)	20		(3)		27		(8)
Ending balance(3)	$	271	$	208	$	271	$	208


	June 30, 2025								December 31, 2024
(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	$	(8,098)	$	—	$	2,622	$	10,720	$	(7,749)	$	—	$	2,971
Intangible asset – axicabtagene ciloleucel	7,110		(2,924)		—		4,186		7,110		(2,721)		—		4,389
Intangible asset – Trodelvy	11,730		(3,623)		—		8,107		11,730		(3,083)		—		8,647
Intangible asset – Hepcludex	845		(372)		—		473		845		(329)		—		516
Other	1,479		(1,001)		1		479		1,474		(940)		1		535
Total finite-lived assets	31,884		(16,019)		1		15,866		31,879		(14,822)		1		17,058
Indefinite-lived assets – IPR&D(1)	2,700		—		—		2,700		2,890		—		—		2,890
Total intangible assets	$	34,584	$	(16,019)	$	1	$	18,566	$	34,769	$	(14,822)	$	1	$	19,948


(in millions)	June 30, 2025		December 31, 2024
Raw materials	$	1,271	$	1,295
Work in process	1,039		847
Finished goods	1,603		1,447
Total	$	3,913	$	3,589
Reported as:
Inventories	$	1,825	$	1,710
Other long-term assets(1)	2,087		1,879
Total	$	3,913	$	3,589


	Total Number of Shares Purchased (in thousands)	Average Price Paid per Share		Total Number of Shares Purchased as Part of Publicly Announced Programs (in thousands)	Approximate Dollar Value of Shares that May Yet Be Purchased Under the Programs (in millions)
April 1 - April 30, 2025	1,711	$	105.88	1,662	$	1,818
May 1 - May 31, 2025	1,936	$	103.00	1,888	$	1,623
June 1 - June 30, 2025	1,887	$	109.49	1,425	$	1,467
Total(1)	5,534	$	106.10	4,975


Exhibit Footnote	Exhibit Number	Description of Document
(1)	2.1	Agreement and Plan of Merger, dated February 11, 2024, among CymaBay Therapeutics, Inc., Registrant and Pacific Merger Sub, Inc.

(2)	3.1	Restated Certificate of Incorporation of Registrant

(3)	3.2	Amended and Restated Bylaws of Registrant

	4.1	Reference is made to Exhibit 3.1 and Exhibit 3.2

(4)	4.2	Indenture related to Senior Notes, dated as of March 30, 2011, between Registrant and Wells Fargo, National Association, as Trustee

(4)	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)

(5)	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)

(6)	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 2044 Note)

(7)	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 2045 Note)

(8)	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)

(9)	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)

(10)	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)

(11)	4.10	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)

(44)	4.11	Tenth Supplemental Indenture, dated as of November 20, 2024, between the Company and Computershare Trust Company, National Association, as successor to Wells Fargo Bank, National Association, as Trustee (including Form of 2029 Note, Form of 2035 Note, Form of 2054 Note and Form 2064 Note)

(12)	4.12	Description of Registrant’s Securities

(13)	10.1*	Gilead Sciences, Inc. 2004 Equity Incentive Plan, amended and restated May 10, 2017

(14)	10.2*	Amendment No. 1 to Gilead Sciences, Inc. 2004 Equity Incentive Plan, amended and restated May 10, 2017

(15)	10.3*	Gilead Sciences, Inc. 2022 Equity Incentive Plan

(16)	10.4*	Form of employee stock option agreement under 2004 Equity Incentive Plan (for grants made in 2011 through 2018)

(17)	10.5*	Form of global employee stock option agreement under 2004 Equity Incentive Plan (for grants made in 2019)

(18)	10.6*	Form of global employee stock option agreement under 2004 Equity Incentive Plan (4 year vest) (for grants made in 2019)

(19)	10.7*	Form of global employee stock option agreement under 2004 Equity Incentive Plan (4 year vest) (for grants made in 2020)

(20)	10.8*	Form of global employee stock option agreement under 2004 Equity Incentive Plan (4 year vest) (for grants made in 2021)

(21)	10.9*	Form of global employee stock option agreement under 2004 Equity Incentive Plan (4 year vest) (for certain grants made in 2022)

(22)	10.10*	Form of global employee stock option agreement under 2022 Equity Incentive Plan (4 year vest) (for certain grants made in 2022)

(23)	10.11*	Form of global employee stock option agreement under 2022 Equity Incentive Plan (4 year vest) (for certain grants made in 2023)

(42)	10.12*	Form of global employee stock option agreement under 2022 Equity Incentive Plan (4 year vest) (for certain grants made in 2024)

(46)	10.13*	Form of global employee stock option agreement under 2022 Equity Incentive Plan (4 year vest) (for certain grants commencing in 2025)

(24)	10.14*	Form of non-employee director stock option agreement under 2004 Equity Incentive Plan (for grants made in 2014 through 2018)

(17)	10.15*	Form of non-employee director stock option agreement under 2004 Equity Incentive Plan (for grants made in 2019)

(25)	10.16*	Form of non-employee director stock option agreement under 2004 Equity Incentive Plan (for grants made in 2020 and 2021)

(22)	10.17*	Form of non-employee director stock option agreement under 2022 Equity Incentive Plan (for grants made in 2022)

(26)	10.18*	Form of non-employee director stock option agreement under 2022 Equity Incentive Plan (for grants made in 2023)

(43)	10.19*	Form of non-employee director stock option agreement under 2022 Equity Incentive Plan (for grants made in 2024)

	10.20,*	Form of non-employee director stock option agreement under 2022 Equity Incentive Plan (for grants commencing in 2025)

(23)	10.21*	Form of performance share award agreement - TSR Goals (U.S.) under 2022 Equity Incentive Plan (for grants made in 2023)


		GILEAD SCIENCES, INC.
		(Registrant)

Date:	August 7, 2025	/s/ DANIEL P. O’DAY
		Daniel P. O’Day Chairman and Chief Executive Officer (Principal Executive Officer)

Date:	August 7, 2025	/s/ ANDREW D. DICKINSON
		Andrew D. Dickinson Chief Financial Officer (Principal Financial Officer)


Optionee:
Grant Date:
Exercise Price:			$[ ] per share of Common Stock
Total Number of Option Shares:			[ ] shares of Common Stock
Expiration Date:
Vesting Schedule:			The Option is fully vested and exercisable as of the Grant Date.


GILEAD SCIENCES, INC.
			/s/ Jyoti Mehra
By:			Jyoti Mehra
Title:			EVP, Human Resources


Participant:
Grant Date:
Number of Shares Subject to Award:			[ ] shares of Common Stock (“Shares”)
Vesting Schedule:			The Award is fully vested as of the Grant Date.


Issuance Schedule:			Unless Participant has made a timely deferral election with the Company in accordance with the applicable requirements of Section 409A of the Code to defer the issuance of Shares to one or more designated issuance or distribution dates or events beyond the otherwise applicable settlement date (a “Deferral Election”), the Shares will be issued no later than 30 days following the Grant Date. However, if Participant has made a timely Deferral Election, then the Shares will be issued in accordance with the terms and provisions of such Deferral Election, including the applicable distribution event and method of distribution. In the event of a Change in Control, the distribution provisions of Paragraph 4 will apply.