Gilead's Yeztugo Launch Shows Mix of Perspectives, RBC Says

MT Newswires Live04-17

Gilead Sciences' (GILD) Yeztugo launch is off to a solid start, though not tracking towards a transformational prospect, RBC Capital Markets said in a Friday note.

Yeztugo is a prescription medicine used as HIV-1 pre-exposure prophylaxis to reduce the risk of getting HIV-1.

The report said feedback from a mini symposium, key opinion leaders and a payer showed a largely positive experience and improving access while noting challenges in catalyzing overall pre-exposure prophylaxis growth, and early bolus could slow.

"Overall, Yeztugo launch feels solid early, akin to a better Apretude...but not necessarily the mass-market transformational prophylactic we believe was initially hoped for," the report said.

The note added that this is likely reflected in consensus' $7 billion peak sales estimate and in its shares.

RBC kept its sector perform rating with a price target of $123.

Price: 137.88, Change: -0.67, Percent Change: -0.48

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