aibioGilead HIV antitrust appeal awaits ruling after October 2025 argument; Aetna trial set for 2027
Tickers GILD
Gilead, Bristol-Myers Squibb, Johnson & Johnson and Teva are defendants in consolidated federal suits over HIV drugs. Gilead paid $525 million in 2023 to settle with the direct purchaser class and retailer opt-out plaintiffs.
Key facts
- Company
- Gilead Sciences, Inc. (NASDAQ: GILD)
- News type
- Legal
- Primary source
- Gilead Sciences 10-Q for the quarter ended June 30, 2026 (SEC EDGAR)
Gilead Sciences, Inc. (Nasdaq: GILD) said in its 10-Q filed August 6, 2026 that consolidated antitrust class actions over HIV drugs remain pending. Plaintiffs' appeal of a 2023 jury verdict was argued in October 2025, and a related suit by Aetna is set for trial in January 2027. The class actions were filed in 2019 and 2020 and are in the U.S. District Court for the Northern District of California. The 10-Q gives no case numbers.
Gilead is a defendant alongside Bristol-Myers Squibb Company, Johnson & Johnson, Inc. and Teva Pharmaceutical Industries Ltd. Aetna's suit in the Superior Court of California, County of San Mateo, names Gilead, Bristol-Myers Squibb and Janssen Products, L.P. The filings name no individual defendants. The claims described here are allegations.
The case
Plaintiffs allege that Gilead and the other defendants engaged in various conduct to restrain competition, in violation of federal and state antitrust laws and state consumer protection laws. The suits concern drugs used to treat HIV, including drugs used in combination antiretroviral therapy. The 10-Q refers to Truvada, Atripla and Complera.
The plaintiffs seek to bring claims for two groups: direct purchasers, largely wholesalers, and indirect or end-payor purchasers, including health insurers and individual patients. They seek damages, permanent injunctive relief and other relief.
In the second half of 2021 and the first half of 2022, several retail pharmacies, individual health plans and United Healthcare filed separate suits that effectively opt out of the class actions. They assert claims substantively the same as the classes, and the cases are coordinated with the class actions.
Defendants
In the class actions, the defendants are Gilead, Bristol-Myers Squibb, Johnson & Johnson and Teva. In March 2023 the court agreed to hold separate trials. Phase I covers the allegations against Gilead and Teva that seek money damages relating to Truvada and Atripla. Phase II covers the allegations against Gilead and, in part, Johnson & Johnson, seeking money damages and injunctive relief relating to Complera.
In January 2022, Aetna, Inc., on behalf of itself and its affiliates and subsidiaries, sued Gilead, Bristol-Myers Squibb and Janssen Products, L.P. in San Mateo County. Aetna's allegations are substantively the same as those in the class actions.
Where it stands
In May 2023 Gilead settled claims with the direct purchaser class and the retailer opt-out plaintiffs for $525 million, which it paid in the second half of 2023. The settlements are not an admission of liability or fault. In June 2023 a jury returned a complete verdict in Gilead's favor on the remaining plaintiffs' Phase I allegations. The court denied a motion to set the verdict aside in November 2023 and entered final judgment in February 2024.
Plaintiffs appealed. They filed opening briefs in September 2024, Gilead responded in January 2025, and plaintiffs replied in March 2025. Oral argument took place in October 2025. Phase II is stayed while the appeal is pending.
In Aetna's case, the court denied Gilead's motion for judgment on the pleadings in March 2024 and bifurcated the case in April 2024 to decide a preclusion issue first. In July 2024 Aetna dismissed two claims with prejudice, leaving only claims related to Truvada and Atripla. The court overruled Gilead's demurrer in April 2025, and an appellate court denied Gilead's writ petition in August 2025. The 10-Q says trial is scheduled for January 2027. The 10-K filed February 24, 2026 had said March 2027.
Why it matters to shareholders
Gilead says it had no material accruals for the matters described as of June 30, 2026 and December 31, 2025. It intends to oppose the appeal vigorously and defend the Phase II claims, and it says it cannot predict the outcome.
If plaintiffs win the appeal or the Phase II claims, Gilead says it could have to pay monetary damages or face permanent injunctive relief. In Aetna's case it says it could be required to pay significant monetary damages, which may materially and adversely affect its results in the period when an outcome becomes probable and estimable.