Gilead Sciences reported a second-quarter loss of $10.5 billion, or $8.45 a share, a significant swing from a profit of $1.96 billion in the same period last year. This loss was primarily driven by research-and-development expenses stemming from recent acquisitions, including those of Arcellx, Tubulis Gmb H, and Ouro Medicines.

Despite the reported loss, Gilead's revenue saw growth, largely propelled by sales of its HIV products. However, sales of its Covid-19 treatment, Veklury, experienced a substantial decline of 81% in the second quarter, leading the company to lower its full-year forecast for the drug. Adjusted losses, excluding certain one-time items, also impacted the company's financial performance.

Analysts had anticipated an adjusted loss, and Gilead's reported figures, while substantial, were somewhat better than some expectations. The company's strategic acquisitions, while contributing to R&D costs, are part of its long-term growth strategy. The performance highlights the ongoing investment in innovation within the biopharmaceutical sector.