Gilead Cites 'More Sophisticated' Process As Pressure For A Major Deal Increases
CEO John Milligan offered few details about Gilead's deal strategy during an investor conference last week, but analysts think internal pressure for a major deal is beginning to equal the external sentiment, including an analyst who sees Incyte as a likely target, but not a quick fix for Gilead's declining HCV drug sales.
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While Milligan’s year-end departure topped the news, Gilead posted solid sales growth for Yescarta, got the HIV franchise back to growth and saw HCV’s decline largely stabilize. CSO McHutchison, meanwhile, predicted that selonsertib could be first to market in NASH.
Norbert Bischofberger has been with Gilead almost since its beginning and helped the company establish dominance in HIV and hepatitis C, but leaves as it's starting to build franchises in oncology and inflammation. Gilead veterans John McHutchinson and Andrew Cheng are elevated in his place.
Already partnered with Kite to apply two technology platforms to CAR-T candidates, Cell Design adds to Gilead's immuno-oncology expertise. Analysts expect more add-ons for Gilead's increasing IO focus.