All still to play for in an HIV space where the job is far from done

The progress achieved in treating huge swathes of the world’s HIV-infected population in the last 20 to 30 years might give the impression of a therapy area where few challenges remain.

At the same time, the success of Gilead Sciences (Nasdaq: GILD) in becoming the leader in market share and gaining approval for Biktarvy (bictegravir/emtricitabine/tenofovir alafenamide), a once-daily single-tablet regimen that is predicted to have peak annual sales of up to $10 billion, might suggest that other companies are just looking to fill in the gaps in the coverage provided by the US biotech giant’s treatments.

Both assumptions would be entirely wrong, according to Deborah Waterhouse (pictured above), chief executive of Viiv Healthcare, the independent HIV specialist company majority-owned by the UK's GlaxoSmithKline (LSE: GSK) and partnered with Pfizer (NYSE: PFE) and Shionogi (TYO: 4507).