Gilead Sciences
978997
222801290
2008-07-01T04:48:44Z
RandomWalker
723412
{{Infobox Company
| company_name = Gilead Sciences
| company_logo = [[Image:GileadSciencesLogo.gif]]
| company_type = [[Public company|Public]] {{nasdaq|GILD}}
| foundation = [[Foster City, California]] ([[1987]])
| location = [[Foster City, California]]
| key_people = [[John Martin]], President and Chief Executive Officer
| industry = [[Healthcare]], [[Biotechnology]], [[Pharmaceutical company]]
| products = [[Amphotericin B|AmBisome]], [[Atripla]], [[Emtriva]], [[Flolan]], [[Hepsera]], [[ambrisentan|Letairis]], [[Macugen]], [[Tamiflu]], [[Truvada]], [[Viread]], [[Vistide]]
| revenue = 4.23 billion [[USD]] (2007)<ref name="GILD_2007_10K">
{{cite web
| author = Gilead Sciences
| title = 2007 Form 10-K Annual Report
| publisher = [[United States Securities and Exchange Commission|SEC]]
| date = [[2008-02-27]]
| url = http://www.sec.gov/Archives/edgar/data/882095/000119312508040255/d10k.htm
| accessdate = 2008-06-30
}}</ref>
| operating_income = {{profit}}1.62 billion [[USD]] (2007)<ref name="GILD_2007_10K"/>
| net_income = {{profit}}2.16 billion [[USD]] (2007)
| num_employees = 2,979 (Jan. 31, 2008)
| homepage = [http://www.gilead.com/ www.gilead.com]
}}
'''Gilead Sciences''' {{nasdaq|GILD}} is a [[biopharmaceutical]] company that discovers, develops and commercializes [[therapeutics]] to advance the care of patients suffering from life-threatening diseases. For many years since the company was founded, the company concentrated primarily on [[antiviral drug]]s to treat patients infected with [[HIV]], [[hepatitis B]] or [[influenza]]. In 2006, Gilead acquired two companies that were developing drugs to treat patients with [[lung|pulmonary]] diseases. The company has eleven commercially available products. Headquartered in [[Foster City, California]], Gilead has operations in North America, Europe and Australia. As of Jan. 31, 2008, the company had 2,979 full-time employees.<ref name="GILD_2007_10K"/>
The company's name and logo refer to the [[Balm of Gilead]]. [[Gilead]] (a place mentioned in the Bible) was famed for its small trees that produced a [[resin]] used in medicine. The leaf in the logo symbolizes healing, life and growth, while the shield represents safety, strength and honor. Together they signify Gilead's efforts to use the healing power of science to create medicines that treat life-threatening diseases.
Gilead is a member of the [[NASDAQ Biotechnology Index]] and the [[S&P 500]].
==History==
Gilead Sciences was originally formed under the name of "Oligogen" in June 1987 by Michael Riordan, a medical doctor who was 29 years old at the time. But the name of the company was changed to "Gilead Sciences" for the incorporation in 1988. Riordan looked to [[Donald Rumsfeld]] as a mentor in the business world and to navigate the political waters. Under the technical leadership of Scientist, Mark Matteucci, the company focussed on discovery research making small strands of DNA (oligomers) to assess the potential of genetic code blockers (gene therapy). Its development of small molecule antiviral therapeutics was ushered in by John Martin in 1992 with the licensing of nucleotide compounds discovered in two European academic labs.
In 1990, Gilead entered into a collaborative research agreement with [[GlaxoSmithKline|Glaxo]] for the research and development of genetic code blockers, also known as [[antisense]]. This collaboration was terminated in 1998, and Gilead's antisense intellectual property portfolio was sold to [[Isis Pharmaceuticals]].
Gilead debuted on the NASDAQ in January 1992. Its IPO raised $86.25 million in proceeds.
In June 1996, Gilead launched its first commercial product, Vistide ([[cidofovir]] injection) for the treatment of [[cytomegalovirus]] (CMV) [[retinitis]] in patients with [[AIDS]]. The company cooperated with [[Pharmacia & Upjohn]] to market the product outside the U.S.A.
In March 1999 Gilead acquired [[NeXstar Pharmaceuticals]] of [[Boulder, Colorado]] following two years of negotiations with the company. At the time, NeXstar's annual sales of $130 million was three times Gilead's sales. NeXstar's two revenue-generating drugs were AmBisome, an injectable fungal treatment, and DaunoXome, an [[oncology]] drug taken by HIV patients. Also in 1999, [[Hoffmann-La Roche|Roche]] announced first approval of Tamiflu ([[oseltamivir]]) for the treatment of [[influenza]]. Tamiflu was originally discovered by Gilead and licensed to Roche for late-phase development and marketing.
Viread ([[tenofovir]]) achieved first approval in 2001 for the treatment of [[HIV]].
In January 2003 Gilead completed its acquisition of [[Triangle Pharmaceuticals]]. The company also announced its first full year of profitability. Later that year Hepsera ([[adefovir]]) was approved for the treatment of chronic [[hepatitis B]], and Emtriva ([[emtricitabine]]) for the treatment of [[HIV]].
In 2004 Gilead launched Truvada, a fixed-dose combination of [[tenofovir]] and [[emtricitabine]].
In January 1997, [[Donald Rumsfeld]], a Board member since 1988, was appointed Chairman of the company.<ref>
{{cite press release
| title = Donald H. Rumsfeld Named Chairman of Gilead Sciences
| publisher = Gilead Sciences
| date = [[1997-01-03]]
| url = http://www.gilead.com/wt/sec/pr_933190157/
| accessdate = 2007-06-03
}}</ref> He stood down from the Board in January 2001 when appointed [[Secretary of Defense]] at the start of [[George W. Bush]]'s first term as President. Federal disclosure forms indicate that Rumsfeld owns between USD$5 million and USD$25 million in Gilead stock. The rise in Gilead's share prices from USD$35 to USD$57 per share will have added between USD$2.5 million to USD$15.5 million to Rumsfeld's net worth.<ref>
{{cite web
| last = Schwartz
| first = Nelson D.
| title = Rumsfeld's growing stake in Tamiflu
| publisher = [[CNN]]
| date = [[2005-10-31]]
| url = http://money.cnn.com/2005/10/31/news/newsmakers/fortune_rumsfeld/?cnn=yes
| accessdate = 2007-06-03
}}</ref>
In November 2005, George W. Bush urged Congress to pass $7.1 billion in emergency funding to prepare for the possible [[H5N1|bird flu]] pandemic, of which one billion is solely dedicated to the purchase, and distribution of Tamiflu.
In July 2006, the [[Food and Drug Administration|U.S.Food and Drug Administration (FDA)]] approved [[Atripla]], a once a day single tablet regimen for HIV, combining Sustiva ([[efavirenz]]), a [[Bristol-Myers Squibb]] product, and Truvada ([[emtricitabine]] and [[tenofovir disoproxil fumarate]]), a Gilead product.<ref>{{cite news | last = Pollack | first = Andrew | title = F.D.A. Backs AIDS Pill to Be Taken Once a Day | publisher = [[New York Times]] | date = [[2006-07-13]] | url = http://www.nytimes.com/2006/07/13/business/13drug.html | accessdate = 2007-09-20 }}</ref><ref> {{cite press release | title = U.S. Food And Drug Administration (FDA) Approves Atripla | publisher = Gilead Sciences and [[Bristol-Myers Squibb]] | date = [[2006-07-12]] | url = http://www.gilead.com/pr_881419 | accessdate = 2007-12-15
}}</ref>
Gilead purchased Raylo Chemicals, Inc. in November 2006 for a price of $133.3 million.<ref>
{{cite press release
| title = Gilead Sciences Completes Acquisition of Raylo Chemicals Inc.
| publisher = Gilead Sciences
| date = [[2006-11-03]]
| url = http://www.gilead.com/wt/sec/pr_926645
| accessdate = 2007-06-07
}}</ref> Raylo Chemical, based in Edmonton, Alberta, was a wholly-owned subsidiary of Degussa AG, a German company. Raylo Chemical was a custom manufacturer of active pharmaceutical ingredients and advanced intermediates for the pharmaceutical and biopharmaceutical industries.
=== Entry in the pulmonology therapeutic area ===
In 2006, Gilead completed two acquisitions that allowed the company to branch out from its historical antiviral franchise into the [[pulmonology]] therapeutic arena.
Myogen<ref>{{cite press release | title = Gilead Sciences to Acquire Myogen, Inc. for $2.5 Billion | publisher = Gilead Sciences | date = [[2006-10-02]] | url = http://www.gilead.com/pr_910704 | accessdate = 2007-08-15}}</ref>, based in [[Boulder, Colorado]], was completing Phase 3 studies of [[ambrisentan]]--now marketed as "Letairis"--an orally available [[endothelin receptor]] [[antagonist]]. The U.S. FDA subsequently approved ambrisentan for the treatment of [[pulmonary hypertension|pulmonary arterial hypertension]] in June 2007.<ref>{{cite news | last = Pollack | first = Andrew | title = Gilead’s Drug Is Approved to Treat a Rare Disease | publisher = [[New York Times]] | date = [[2007-06-16]] | url = http://www.nytimes.com/2007/06/16/business/16gilead.html | accessdate = 2007-06-16 }}</ref><ref>{{cite press release | title = U.S. Food and Drug Administration Approves Gilead's Letairis Treatment of Pulmonary Arterial Hypertension | publisher = Gilead Sciences | date = [[2007-06-15]] | url = http://www.gilead.com/wt/sec/pr_1016053 | accessdate = 2007-06-16 }}</ref><ref>{{cite press release | title = FDA Approves New Orphan Drug for Treatment of Pulmonary Arterial Hypertension | publisher = [[Food and Drug Administration]] | date = [[2007-06-15]]
| url = http://www.fda.gov/bbs/topics/NEWS/2007/NEW01653.html | accessdate = 2007-06-22 }}</ref>
Under an agreement with [[GlaxoSmithKline]], Myogen markets [[Flolan]] ([[epoprostenol sodium]]) in the United States for the treatment of [[primary pulmonary hypertension]]. Additionally, Myogen is developing (in Phase 3 studies) darusentan<ref>{{cite web |url=http://clinicaltrials.gov/ct/search?term=darusentan&submit=Search |title=ClinicalTrials.gov - Information on Clinical Trials and Human Research Studies: Darusentan |accessdate=2007-08-18}}</ref>, also an endothelin receptor antagonist, for the potential treatment of resistant [[hypertension]].
The second acquisition was Corus Pharma. Corus' lead product candidate, aztreonam lysine for inhalation, is an antibiotic with activity against [[gram-negative bacteria]] including [[Pseudomonas aeruginosa]], which can cause lung infections in patients with [[cystic fibrosis]]. The product is in Phase 3 studies.<ref>{{cite web |url=http://clinicaltrials.gov/ct/show/NCT00499720 |title=Clinical Trial: Aztreonam Lysine for Inhalation in Patients With Cystic Fibrosis and Pseudomonas Aeruginosa Airway Infection |accessdate=2007-08-18}}</ref> Gilead also obtained an inhalation formulation of two antibiotics for treatment of respiratory infections.<ref>{{cite press release | title = Gilead Invests $25 Million in Corus Pharma; Establishes Equity Position in Company With Late-Stage Product Candidate for Cystic Fibrosis | publisher = Gilead Sciences | date = [[2006-04-12]] | url = http://www.gilead.com/pr_842319 | accessdate = 2007-08-15}}</ref>
Gilead expanded its move into pulmonology in 2007 by entering into a licensing agreement with Parion for an [[epithelial sodium channel]] inhibitor for the treatment of pulmonary diseases, including cystic fibrosis, [[chronic obstructive pulmonary disease]] and [[bronchiectasis]].<ref>{{cite press release | title = Parion Sciences and Gilead Sciences Sign Agreement to Advance Drug Candidates for Pulmonary Disease | publisher = Gilead Sciences | date = [[2007-08-15]] | url = http://www.gilead.com/pr_1040975 | accessdate = 2007-08-15}}</ref>
===Timetable of mergers and acquisitions===
{|class="wikitable" style="text-align:center"; border="5"
|+ Timetable of Mergers and Acquisitions
|- valign="bottom"
! Year
! Company
! Price
! Notes
|- valign="TOP"
| 1999
| Nexstar Pharmaceuticals
| $550 million
| Nexstar had two drugs (AmBisome and DaunoXome) of which only AmBisome is still in Gilead's portfolio, although it is not a major source of income for the company. DaunoXome was sold to Diatos in 2006.<ref>{{cite press release | url = http://www.diatos.com/pdf_news/21_diatos_pr_daunoxome_deal_2006_may_11.pdf | format = pdf | accessdate = 2007-08-13 | publisher = Diatos SA | title = Diatos Announces Acquisition of Specialty Cancer Product DaunoXome from Gilead | date = [[2006-03-28]] }}</ref> As important as the products, Nexstar also provided Gilead with a much-needed sales force and commercialization team in Europe and Australia, and a manufacturing plant in [[San Dimas, California]].<ref>{{cite press release | url = http://www.gilead.com/pr_933138351 | accessdate = 2007-08-13 | publisher = Gilead Sciences, Inc | title = Gilead Sciences and NeXstar Pharmaceuticals to Merge | date = [[1999-03-01]]}}</ref>
|- valign="TOP"
| 2003
| Triangle Pharmaceuticals
| $464 million
| Triangle owned the development and commercialization rights to emtricitabine, which although marketed as a stand-alone product (Emtriva), is also a component of the more profitable combination products Atripla and Truvada.<ref>{{cite press release | title = Gilead Sciences to Acquire Triangle Pharmaceuticals for $464 Million | publisher = Gilead Sciences | url = http://www.gilead.com/pr_1038971547 | date = [[2004-12-04]] | accessdate = 2007-08-15}}</ref>
|- valign="TOP"
| 2006
| Corus Pharma, Inc.
| $365 million
| The acquisition of Corus and Myogen signaled Gilead's entry into the pulmonary arena. Corus was developing aztreonam lysine for the treatment of patients with cystic fibrosis who are infected with ''Pseudomonas aeruginosa''
|- valign="TOP"
| 2006
| Myogen, Inc.
| $2.5 billion
| With two drugs in development (ambrisentan and darusentan), and one marketed product (Flolan) for pulmonary diseases, the acquisition of Myogen has solidified Gilead's position in this therapeutic arena.
|- valign="TOP"
| 2006
| Raylo Chemicals, Inc.
| €107 million
| This [[Edmonton, Alberta]] site will be used for process research and for manufacturing compounds for both clinical studies and commercial products.<ref>{{cite press release | title = Gilead Sciences to Acquire Degussa's Raylo Chemicals Inc.; Purchase to Expand Gilead's Manufacturing Scale-Up Capacity for Investigational Therapies | publisher = Gilead Sciences | url = http://www.gilead.com/pr_869116 | date = [[2006-06-06]] | accessdate = 2007-08-15}}</ref>
|}
==Board of Directors==
* James M. Denny ([[Chairman]])
* [[Paul Berg]]
* John F. Cogan
* Etienne F. Davignon
* [[Carla A. Hills]]
* John W. Madigan
* John C. Martin ([[Chief executive officer|CEO]])
* [[Gordon E. Moore]]
* [[Nicholas G. Moore]]
* [[George P. Shultz]] (emeritus)
* Gayle Edlund Wilson
==Senior Management==
Gilead's Executive Committee is responsible for making the critical decisions that determine the company's future. Its members include:
{| class="wikitable" style="text-align:center"; border="5"
! Name !! Title
|-
|John C. Martin
|President and Chief Executive Officer
|-
|Norbert W. Bischofberger
|Executive Vice President, Research and Development and Chief Scientific Officer
|-
|John F. Milligan
|Chief Operating Officer and Chief Financial Officer
|-
|Kevin Young
|Executive Vice President, Commercial Operations
|-
|Gregg H. Alton
|Senior Vice President and General Counsel
|-
|Anthony D. Caracciolo
|Senior Vice President, Manufacturing and Operations
|-
|Paul Carter
|Senior Vice President, International Commercial Operations
|-
|Michael J. Gerber
|Senior Vice President, Clinical Research
|-
|William A. Lee
|Senior Vice President, Research
|-
|James R. Meyers
|Senior Vice President, Commercial Operations, North America
|-
|A. Bruce Montgomery
|Senior Vice President, Head of Respiratory Therapeutics
|-
|John J. Toole
|Senior Vice President, Clinical Research
|-
|Taiyin Yang
|Senior Vice President, Pharmaceutical Development and Manufacturing
|-
|Kristen M. Metza
|Senior Vice President, Human Resources
|}
==Product portfolio==
Gilead has 11 products on the market.
{| class="wikitable" style="text-align:center";
|+ Product Portfolio
|-valign="bottom"
! width="10%"|Brand Name
! width="25%"|Drug Name(s)
! width="30%"|Indication
! width="20%"|Date Approved (USA)<ref>{{cite web | url = http://www.accessdata.fda.gov/scripts/cder/drugsatfda/ | title = Drugs@FDA: FDA Approved Drug Products | accessdate = 2007-08-13 | publisher = [[Food and Drug Administration]]}}</ref>
! width="15%"|Marketing Partner(s)
! width="10%"|U.S. Patent Expiration<ref name="GILD_2007_10K"/>
! width="10%"|European Patent Expiration<ref name="GILD_2007_10K"/>
|-valign="top"
|'''[[AmBisome]]'''
|[[liposome|liposomal]] [[amphotericin B]]
|[[fungal infection]], [[Cryptococcosis|cryptococcal]] [[meningitis]], [[Aspergillus]], [[Candida (genus)|Candida]], [[Cryptococcus]] infections
|[[1997-08-11]]
|[[Astellas Pharma]]
|2016
|2008
|-valign="top"
|'''[[Atripla]]'''
|[[tenofovir]], [[emtricitabine]], and [[efavirenz]]
|[[HIV]], [[AIDS]]
|[[2006-07-12]]
|[[Bristol-Myers Squibb]]
|2021
|2018
|-valign="top"
|'''[[Emtriva]]'''
|[[emtricitabine]]
|[[HIV]], [[AIDS]]
|[[2003-07-02]]
|
|2021
|2016
|-valign="top"
|'''[[Flolan]]'''
|[[Epoprostenol|epoprostenol sodium]]
|[[pulmonary hypertension]]
|[[1995-09-20]]
|[[GlaxoSmithKline]]
|expired
|expired
|-valign="top"
|'''[[Hepsera]]'''
|[[adefovir|adefovir dipivoxil]]
|[[hepatitis B|hepatitis B (HBV)]]
|[[2002-09-20]]
|
|2014
|2011
|-valign="top"
|'''[[Letairis]]'''
|[[ambrisentan]]
|[[pulmonary hypertension|pulmonary arterial hypertension]]
|[[2007-06-15]]
| [[GlaxoSmithKline]]
| 2015
| 2015
|-valign="top"
|'''[[Macugen]]'''
|[[pegaptanib|pegaptanib sodium solution]]
|[[Macular degeneration|age-related macular degeneration]]
|[[2004-12-17]]
|[[OSI Pharmaceuticals|OSI]] and [[Pfizer]]
|2017
|2017
|-valign="top"
|'''[[Tamiflu]]'''
|[[oseltamivir|oseltamivir phosphate]]
|[[influenza]]
|[[1999-10-27]]
|[[Roche]]
|2016
|2016
|-valign="top"
|'''[[Truvada]]'''
|[[emtricitabine]] and [[tenofovir]]
|[[HIV]], [[AIDS]]
|[[2004-08-02]]
|
|2021
|2018
|-valign="top"
|'''[[Viread]]'''
|[[tenofovir]]
|[[HIV]], [[AIDS]]
|[[2001-10-26]]
|
|2017
|2018
|-valign="top"
|'''[[Vistide]]'''
|[[cidofovir]]
|[[Cytomegalovirus|CMV]] [[retinitis]]
|[[1996-06-26]]
|[[Pfizer]]
|2010
|2012
|}
==References==
{{reflist}}
==External links==
*[http://www.gilead.com/ Gilead corporate web site]
*[http://www.answers.com/topic/gilead-sciences-inc Answers.com page on Gilead, including entry from Encyclopedia of Company Histories]
*[http://biz.yahoo.com/ic/15/15080.html Gilead Sciences company profile] from [[Yahoo!]]
*[http://www.gstock.com/quote/gild.html Gilead Sciences stock performance chart] from [[GStock]]
*[http://phx.corporate-ir.net/phoenix.zhtml?c=69964&p=irol-newsArticle&t=Regular&id=810204& Press Release on 2005 Financial Results]
{{NASDAQ-100}}
[[Category:Gilead Sciences| ]]
[[Category:Companies in the NASDAQ Biotechnology Index]]
[[Category:Pharmaceutical companies of the United States]]
[[Category:Companies based in San Mateo County]]
[[Category:Companies established in 1987]]
[[Category:Biotechnology companies]]
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