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CLAIM #27047 · GILD (GILD) · 2023Q4 earnings call · Feb 6, 2024 · due Dec 31, 2025

So maybe the last thing I'd say is that when we look at the business, this is a business that we have line of sight to biologics margins and profitability.

Andrew Dickinson · CFO

PENDING
graded after results covering Dec 31, 2025 are reported

In context

d of year four. We got there shortly after that. All of the metrics that we look at on the business have improved over time. We've continued to make significant progress on our manufacturing efficiency, manufacturing costs, despite the fact that we've opened three global manufacturing centers. And each time you do that, when you move to commercial manufacturing, it impacts your gross margin. So I'm really proud of what the team has done. And same thing on the operating costs. You see in the fourth quarter, we announced some restructuring charges, Geoff, that hit our GAAP results. Part of that was a restructuring at Kite. Cindy and her team looked at the structure and made changes to the structure that we think will continue to drive growth and efficiency in the business over the long run. So maybe the last thing I'd say is that when we look at the business, this is a business that we have line of sight to biologics margins and profitability. We're really growing the business, Geoff, as you know, for long-term sustainability and growth and less near-term profitability, but it's certainly exciting that the business is doing as well as it is. Cindy Perettie: I think the only thing I would add to Andy's comment is beyond the three manufacturing facilities, we also have our own viral vector facility. So given the fact that viral vector has had some supply challenges, That's something that we are not suffering from. So we own these sort of end-to-end cost of goods for our products. Jacquie Ross: Can we have our next question please, Victoria? Operator: Of course. Our next question comes from the line of Michael Yee with Jefferies. Your line is now open. Michael Yee: Hey, guys. Thank you for the question. We have a HIV question. The

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SEC filings for GILD · Claim quote is verbatim from the 2023Q4 earnings call.