Gilead Sciences, Inc.

Gentlemen, thank you for standing by, and welcome to the Gilead Sciences third quarter 2019 earnings conference call. My name is Liz, and I will be your conference operator today. At this time, all participants are in a listen-only mode, and as a reminder, this conference call is being recorded. I would now like to turn the call over to Sung Lee, Senior Vice President of Investor Relations. Please go ahead.

Thank you, Liz, and good afternoon, everyone. Just after market closed today, We issued a press release with earnings results for the third quarter of 2019. The press release and detailed slides are available on the investor relations section of the Gilead website. The speakers on today's call will be Daniel O'Day, Chairman and Chief Executive Officer, Robin Washington, Executive Vice President and Chief Financial Officer, and Johanna Mercier, Chief Commercial Officer. Also in the room are Diana Brainerd, Senior Vice President and Head of our HIV and Emerging Viruses Therapeutic Area, and John Sundy, Senior Vice President and Head of our Inflammation Therapeutic Area. Before we begin with our prepared comments, let me remind you that we will be making forward-looking statements, including plans and expectations with respect to products, product candidates, financial projections, and the use of capital, all of which involve certain assumptions, risks and uncertainties, that are beyond our control and could cause actual results to differ materially from these statements. A description of these risks can be found in our latest SEC disclosure documents and recent press releases. In addition, Gilead does not undertake any obligation to update any forward-looking statements made during this call. Non-GAAP financial measures will be used to help you understand the company's underlying business performance. The gap to non-gap reconciliations are provided in the earnings press release as well as on the Gilead website. I will now turn the call over to Dan.

Thank you, Sung, and good afternoon, everyone. Thank you for joining today. I'll share a few opening comments and then turn the call over to Robin. And after that, Johanna will take you through the commercial highlights of the quarter as well. So let me start by saying I'm very pleased with the progress that we're making on all fronts here at Gilead and the strong third quarter results. Once again, we saw significant growth in our HIV business, reaching an all-time high in quarterly HIV revenue. As you know, in my time at Gilead, I've focused on three key areas since coming in, the pipeline, commercial delivery, and people. And today, in my brief remarks, I'll focus on the significant progress we've made in two of those areas, the pipeline and the people, And then Johanna will take you and talk to you about the excellent commercial performance later in the call. So let me begin by saying a few words about our pipeline, starting with HIV. As you're aware, we received FDA approval for Descovy for PrEP earlier this month. This is a really important indication for us as it allows us to extend the benefits of Descovy to people who are at risk of HIV. To remind you, the approval was based on the DISCOVER trial, which demonstrated that Descovy is just as effective as Truvada and offers advantages in bone and renal safety parameters. We are excited to build on Descovy's status as the most prescribed dual NRTI backbone in the world by advancing its use in PrEP. Happy to say we've also received endorsement to begin a study of Descovy for PrEP in cisgender women. which will allow us to eventually bring the medicine to a broader group of people. Rest assured, we continue to remain focused on our HIV pipeline beyond our Descovy-based regimens as well, on our long-acting antivirals programs, compounds that will treat highly treatment-experienced patients, and, of course, on our cure research as well. So turning to Fulgotinib, we've now filed for approval of Fulgotinib Thank you for joining us. which we expect to have data on next year. And in addition, we were successful in closing our partnership with Galapagos this past quarter. I'm looking forward to the American College of Rheumatology coming up in Atlanta so that we can share further updates on filgotinib. Researchers there will present further analysis in the FinCH2 study which evaluated filgotinib in patients with RA who were previously treated with a biologic and then results of the pooled safety analysis of forgotten of across the Finch program will also be presented and updated there. Turning to cell therapy, I would like to say a few words about KITES and our work in cell therapy. The teams down at KITE are busy preparing for the American Society of Hematology meeting, which will happen in early December, where in addition to exciting data from our ongoing clinical trials, We will share survival data for Yaskarta at three years in large B-cell lymphoma, as well as results from the registrational study of Kite X-19 and mantle cell lymphoma. Recently, we also completed enrollment in the pivotal Zuma 7 study of Yaskarta in second-line large BCL lymphoma, and we're excited about the potential this medicine could help for this group of patients. As we discussed also last quarter, we continue to see quarterly variations in Yes Garda, but we're very confident in its future and the long-term trajectory of our cell therapy platform. Finally, a few comments about our leadership team, which is now complete with two new appointments. Mirdad Parsi will join us on November 1st as our chief medical officer. Mirdad, who previously led the early clinical development program at Genentech, will have responsibility for all of our global development and medical affairs functions. Bill Lee will continue to lead our research organization, and he'll report directly to me working closely with Murdaud. Murdaud is an outstanding scientist and leader with a remarkable track record of success, and I believe that Murdaud will be a tremendous asset to Gilead, maintaining a very high bar for innovation so that we can continue to build on our legacy of transformational medicines. I'm also very excited about the appointment of Andy Dickinson to the role of CFO. Andy has been at Gilead since 2016 and currently serves as our Executive Vice President, Corporate Development and Strategy. He transformed the way that the company approaches corporate development before I came in and expanding the kinds of transactions executed and implemented a broader, more strategic approach to dealmaking here at Gilead. As of November 1st, Andy will succeed Robin Washington, whose retirement we announced earlier this year. Happy that Robin will remain at Gilead in an advisory capacity through early next year while we complete the reporting of our 2019 results. I'd also like to take this opportunity to thank Robin for her outstanding contributions, dedication, and tremendous commitment to Gilead. We wish her all the best in retirement, and I'm sure she'll continue to stay busy. I look forward to working with this outstanding group of leaders here at Gilead who bring a strong blend of skills and diverse perspectives to the path forward for our future. And in closing, I'm increasingly optimistic about the future and believe we are well positioned as we enter the last part of the year and look ahead to 2020 and beyond. We will continue to build on our success as we replenish the pipeline and bring the next wave of transformational advances to patients. On behalf of the leadership team, I want to thank all of our employees and partners around the world for the dedication and hard work that led to the successful quarter and the results that you see here today and whose commitment will continue to make us successful in the future. With that, I will now turn the call over to Robin.