Gilead's Long-Term Dominance of the HIV Treatment and Prevention Markets Supports a Wide Moat
Gilead Sciences generates stellar profit margins with its HIV and hepatitis C virus, or HCV, portfolio, which requires only a small salesforce and inexpensive manufacturing. We think its portfolio and pipeline support a wide moat, but Gilead needs HCV market stabilization, strong continued innovation in HIV, solid oncology pipeline data, and smart future acquisitions to return to growth.