Weekly Scripts To Go, For Yeztugo

研报英文原文证据摘录

Weekly Scripts To Go, For Yeztugo

TD Cowen Gilead Sciences

Global Research May 11, 2026

2026 TD Cowen Health Care Conference surveyed investors, physicians, and payors project

substantial long-term uptake for Yeztugo. Weighted physician and payor averages per our

survey were 41% and 44% US PrEP market share, respectively, over the next five years.

The most selected investor response fell in the 40-59% range, with a subset expressing even

greater optimism (discussed here). One KOL on the HIV panel commented that achieving

~40% market share would be "easily achievable" over time, though the pace of uptake may

be tempered by cost pressures on HIV assistance programs. They also expect Yeztugo to gain

share from Apretude as operational barriers ease, with twice-yearly subcutaneous dosing

viewed as meaningfully more convenient than every two month intramuscular injections for

many patients.

A Q12M Lenacapvir Could Launch By 2028 And Eventually Capture 50-60% Of Patients On

PrEP By 2030

An update from the PURPOSE-365 study, a once-yearly IM lenacapavir for PrEP, is expected

in 2027, and it could launch in 2028 if successful (discussed here). Management noted that

this is a smaller study compared to other PURPOSE studies and the goal is to understand PK

and target coverage. KOLs on our HIV panel at the 2026 TD Cowen Health Care Conference

suggested that if a once-yearly formulation were approved, it could ultimately be adopted by

a majority of PrEP users, potentially reaching 50-60% of patients on PrEP by 2030.

KOLs Expect The PrEP Market To Expand In The Next 5 Years

On the broader PrEP opportunity, we previously spoke to a KOL from one of the largest HIV

PrEP providers in the US last fall who expects the PrEP market to expand 50-100% in the

next 5 years (discussed here).