Gilead raises dividends amid strong HIV drug sales but faces patent risks by 2036.

Gilead Sciences increased its quarterly dividend to $0.82 per share, supported by strong cash flow from its HIV drug Biktarvy, which generated $3.8 billion in sales last quarter. The company’s free cash flow comfortably covers dividends, making payouts reliable for income investors. However, Gilead faces a significant patent cliff risk with Biktarvy’s patent expiring in 2036, potentially impacting future revenue. The company is diversifying its pipeline with new drugs in oncology and liver disease to sustain growth beyond the HIV franchise.