An increase in sales of oncology, HIV and hepatitis C drugs boosted Gilead Sciences’ quarterly revenues by 2%, according to the company’s most recent earnings report released Thursday evening. 

During the quarter, HIV product sales rose 5% to $4.8 billion, with Biktarvy sales up 15% and Descovy sales up 13%.

Additionally, the pharma company’s top-line grew despite being partially offset by lower remdesivir sales during Q4 2022. Gilead recorded an earnings per share (EPS) of $1.30, up from $0.30 in Q4 2021, and generated $2.6 billion in operating cash flow. 

For its full-year financial guidance, the company projects total product sales between $26 billion and $26.5 billion, with an EPS between $5.30 and $5.70. 

Gilead also announced it would increase its Q1 dividend by 2.7%.

“2022 marked Gilead’s strongest full year growth in our base business since HCV sales peaked in 2015. This return to growth was driven by consistent and high quality commercial and clinical execution across our portfolio,” Gilead CEO Daniel O’Day said in a statement. “In HIV, Biktarvy gained market share in the U.S. as it has every quarter since launch, while our long-acting HIV agent, lenacapavir, received its first regulatory approvals. The strong full year growth in oncology was driven by continued increase in demand for Trodelvy and our Cell Therapies. We look forward to building on this momentum in 2023 and further increasing our impact for people and communities worldwide.”

Gilead was on the move during Q4, making several deals for drugs and companies alike.

In late December, subsidiary Kite announced it would acquire Tmunity Therapeutics in a transaction that is expected to close in early 2023.

Just over a week later, Gilead bought the remaining rights to Jounce Therapeutics’ immunotherapy GS-1811, in which Jounce will receive $67 million in proceeds, while Gilead will take sole responsibility for further research, development and commercialization of the drug globally.

Gilead’s earnings were also released weeks after the company announced a collaboration with EVOQ Therapeutics to expand its rheumatoid arthritis and lupus pipeline that could include an upfront payment of $658.5 million.