Gilead's Biktarvy Pricing Impact Likely Manageable, RBC Says

12:14 PM EDT, 10/21/2026 (MT Newswires) -- Gilead Sciences's (GILD) Biktarvy Medicare pricing risks appear manageable but underappreciated by the market, RBC Capital Markets said in a note Wednesday. Ahead of the expected announcement of Medicare's negotiated discount for Biktarvy, the revenue impact starting in 2028 is expected to be manageable, as patient growth should help keep US HIV sales stable, the report said. The note also said Descovy's HIV prevention business is set to contribute more to medium-term sales than market estimates. However, market estimates may understate the impact of Medicare price cuts on Biktarvy, and overestimate how much newer treatments will offset the decline, potentially limiting upside following the discount announcement, the report said. RBC has a sector perform rating and a $126 price target. Price: 153.00, Change: -3.51, Percent Change: -2.24