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Gilead Sciences Inc GILD

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Morningstar’s Analysis

Valuation
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1-Star Price

PREMIUM

5-Star Price

PREMIUM

Economic Moat

PREMIUM

Stewardship

PREMIUM

Implementation of Trump's Recent Efforts to Affect Drug Pricing Seems Unlikely

Damien Conover, CFA Sector Director

Analyst Note

| Damien Conover, CFA |

President Donald Trump issued several orders on Nov. 20 designed to lower U.S. drug prices, but we don’t expect implementation of the orders due to legal challenges, lack of support from the U.S. Congress and the new Biden administration, and unclear financial impacts. As a result, we don’t expect any major impact on the U.S. pricing power of drugs, a core pillar of the moats and valuations in the drug industry.

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Company Profile

Business Description

Gilead Sciences develops and markets therapies to treat life-threatening infectious diseases, with the core of its portfolio focused on HIV and hepatitis B and C. The acquisitions of Corus Pharma, Myogen, CV Therapeutics, Arresto Biosciences, and Calistoga have broadened this focus to include pulmonary and cardiovascular diseases and cancer. Gilead's acquisition of Pharmasset brought rights to hepatitis C drug Sovaldi, which is also part of combination drug Harvoni, and the Kite, Forty Seven, and Immunomedics acquisitions boost Gilead's exposure to cell therapy and noncell therapy in oncology.

Contact
333 Lakeside Drive
Foster City, CA, 94404
T +1 650 574-3000
Sector Healthcare
Industry Drug Manufacturers - General
Most Recent Earnings Sep 30, 2020
Fiscal Year End Dec 31, 2020
Stock Type High Yield
Employees 11,800

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