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On Wednesday, Gilead Sciences, Inc. (NASDAQ:GILD) ($123 billion market cap) conducted its 2025 annual meeting of stockholders, with a quorum of over 1.1 billion shares represented. The biotech giant, which has delivered an impressive 57% return over the past year according to InvestingPro data, maintains a strong financial health rating. The meeting resulted in the re-election of nine directors for the upcoming year. Additionally, Ernst & Young LLP was ratified as the independent registered public accounting firm for the fiscal year ending December 31, 2025.
The stockholders approved, on an advisory basis, the compensation of the company’s Named Executive Officers. However, two stockholder proposals were not approved: one requesting the CEO pay ratio be included in executive compensation programs and another requesting an independent Board Chair policy.
Furthermore, stockholders did not approve proposals for a comprehensive human rights policy and due diligence process, nor a report on the risks of the company’s Diversity, Equity, and Inclusion (DEI) practices for contractors.
This news is based on a recent 8-K filing by Gilead Sciences with the Securities and Exchange Commission.
In other recent news, Gilead Sciences reported its first-quarter 2025 earnings, exceeding Wall Street expectations with an earnings per share (EPS) of $1.81, compared to the forecast of $1.77. However, the company’s revenue fell short, reaching $6.67 billion against the anticipated $6.78 billion. Gilead has also agreed to a $202 million settlement to resolve a civil fraud lawsuit related to alleged kickbacks paid to doctors for prescribing its HIV drugs. The U.S. Attorney’s office cited this practice as a violation of the federal False Claims Act. Additionally, Gilead is set to present new research findings at the European Association for the Study of the Liver Congress, focusing on liver disease treatments. The company is preparing for multiple product launches, including lenacapavir for PrEP. Lastly, S&P recently upgraded Gilead’s long-term debt rating, reflecting the company’s stable revenue growth and strong cash flow generation.
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