Company History and Corporate Goals - Gilead
Gilead Sciences was founded in 1987 originally as Oligogen. The company has gone through 17 mergers and acquisitions since it was founded with the latest being the acquisition of Cell Design Labs and Kite Pharmaceuticals Inc. in 2017.
Gilead Sciences History
- Gilead is a biopharmaceutical company that manufactures and commercializes innovative medicines for critical diseases. The company was founded as Oligogen on June 22, 1987, by Michael Riordan, M.D.
- The company became publicly-traded in 1992 and currently has 11,000 employees.
- Gilead generated revenue of $22.1 billion in 2018.
- Headquartered in Foster City, California, United States.
- Michael Riordan, M.D. was the company's first chief executive officer.
- John C. Martin became the president and CEO of Gilead Sciences from 1996 to 2008. In 2008, he served as the company's chairman and CEO till 2016.
- John F. Milligan, PhD, served as the company's president and CEO from 2016 to 2019.
- Daniel O'Day was recently appointed as the chairman and CEO of Gilead Sciences in 2019.
Drug Approvals Timeline
- The company began the development of small-molecule antiviral therapeutics in 1991.
- In 1999, the U.S. Food and Drug Administration approved Tamiflu, a product of Gilead Sciences for the treatment of influenza A and B in adults. The FDA also approved AmBisome for the treatment of cryptococcal meningitis in HIV-infected patients in July 2000.
- In October 2001, the FDA approved Viread for the treatment of HIV infection. In February, the European Medicines Agency approved Viread for the treatment of HIV infection and later the same year, the FDA approved Hepsera for the treatment of chronic hepatitis B.
- In 2003, the European Medicines Agency and the U.S. Food and Drug Administration approved Emtriva for the treatment of HIV. The same year, the European Medicines Agency also approved Hepsera for the treatment of chronic hepatitis B.
- The U.S. FDA approved the use of Macugen for age-related macular degeneration, and Truvada was also approved for the for HIV combination therapy in 2004.
- The European Medicines Agency approved Truvada for the treatment of HIV in 2005.
- In 2006, Gilead's medicine Truvada was listed among the preferred Nucleoside Reverse Transcriptase for treatment-naive patients. The U.S. FDA later approved Atripla and Ranexa drugs in the same year.
- Atripla was approved by the European Medicines Agency and Health Canada for the treatment of HIV. The U.S. Food and Drug Administration approved Letairis for the treatment of pulmonary arterial hypertension in 2007.
- Gilead's Ranexa was approved as a first-line treatment for chronic angina. The U.S. FDA and European Medicines Agency approved Viread for the treatment of chronic hepatitis B in adults. The U.S. FDA also approved the use of Lexiscan for patients unable to undergo adequate exercise stress in 2008.
- The U.S. FDA approved Cayston for the improvement of respiratory symptoms in cystic fibrosis patients in 2010.
- In 2011, Complera was approved for the treatment of HIV-1 infection by the U.S. FDA, and the European Medicines Agency also approved Eviplera for the treatment of HIV.
- The U.S. FDA approved Truvada, Viread, and Stribild in 2012.
- The European Commission approved Tybost and Vitekta. Sovaldi was approved for the treatment of chronic hepatitis C as a component of a combination antiviral treatment regime by the U.S. FDA in 2013.
- In 2014, Gilead signed a generic licensing agreement with Indian generic partners helps increase access to Gilead hepatitis C medicines in developing countries. In the same year, the U.S. FDA approved Harvoni, Tybost, Vitekta, and Zydelig.
- The U.S. FDA approved Genvoya as a once-daily, single-tablet regimen for HIV-1 infection in 2015.
- By 2016, Gilead's HIV medicines have reached over 10 million people in developing countries. Odefsey, Descovy, Epclusa, Vemlidy were all approved by the U.S. FDA.
- Gilead launched the COMPASS Initiative to help address HIV/AIDS in the Southern United States. The company pledged $100 million over 10 years to support efforts to reduce HIV-related stigma and inequalities. Yescarta, Vosevi, Sovaldi, and Harvoni medications were all approved by the U.S. FDA in the same year.
- The most recent approval for Gilead manufactured drug was for Biktarvy for the treatment of adults with HIV-1 infection by the U.S. FDA in 2018.
Mergers and Acquisitions
- Gilead Sciences has made a total of 17 acquisitions since the company was found.
- Gilead acquired NeXstar Pharmaceuticals in an all-stock, tax-free pooling-of-interests transaction for $550 million.
- Myogen, Inc was acquired by Gilead for $2.5 billion in 2006.
- Gilead Sciences completed the acquisition of Corus Pharma. In 2006 for $365 million.
- Gilead Sciences acquired Raylo Chemicals Inc. in 2006 for $147.7 million.
- CV Therapeutics was purchased for $1.4 billion in 2009.
- Gilead acquired Arresto Biosciences, Inc., a privately-held, development-stage biotechnology company for $225 million in 2010.
- In 2010, Gilead Sciences announced the acquisition of GI Pharmaceuticals for $120 million.
- Gilead Sciences acquired Calistoga Pharmaceuticals; a privately-held biotechnology company focused on the development of medicines to treat cancer and inflammatory diseases for $375 million in 2011.
- Gilead completed the acquisition of Pharmacest for $11.2 billion in 2012.
- In January 2013, Gilead completed the acquisition of Triangle Pharmaceuticals by merging Triangle with a wholly-owned subsidiary of Gilead.
- Gilead Sciences acquired YM BioSciences in 2013.
- Gilead Sciences acquired Epitherapeutics for $65 million in 2015.
- Phenex Pharmaceuticals AG, a privately-held biotechnology company, was acquired by Gilead Sciences for $470 million in 2015.
- Gilead acquired Nimbus Apollo programs for a total of $1.2 billion in 2016. $400 million to be paid upfront and an additional $800 million in development-related milestones over time.
- Gilead Sciences acquired Kite Pharmaceuticals Inc. in 2017 for $11.9 billion.
- Gilead Sciences announced the completion of the acquisition of Foster City Campus for $123 million.
- Cell Design Labs was acquired in 2017 by Gilead for $567 million.
- Integrity, inclusion, teamwork, accountability, and excellence are the company's core values.
- Vision statement: "To advance therapeutics against life-threatening diseases worldwide".
- Mission statement: "To discover, develop and commercialize innovative therapeutics in the areas of unmet medical needs that improve patient care."
- In its efforts to maintain the sustainability in its businesses, Gilead Sciences in 2018, launched a CSR committee to help ensure their business meets the highest social and environmental standards.
- Through its research and development efforts, Gilead is focused on advancing the care of patients and fostering their relationships with physicians, patients and their caregivers, and employees.
- In alignment with Gilead Science’s goal, the company “invest in programs that promote prevention, strengthen healthcare infrastructure, and provide education and social and financial support to the most vulnerable communities around the world” and also enable access to medicines, fight stigma and collaborate with partners worldwide.
- Gilead entered into 25 partnerships, licensing, merger & acquisition deals to enhance their research pipeline in therapeutic areas which is in line with the company’s goals.
- Gilead Sciences expanded access to HIV, viral hepatitis and visceral leishmaniasis treatments to low and middle-income countries.
- Through its collaboration with the WHO, Gilead Sciences is working to eliminate chronic hepatitis C in the world.
- Gilead partnered with the U.S. President’s Emergency Plan for AIDS Relief (PEPFAR) to help reduce HIV infections among girls in sub-Saharan countries.
- The company partnered with public health agencies, NGOs, universities and defense agencies on the clinical trials for the treatment of Ebola.
- Gilead developed a $100 million, 10-year commitment initiative (COMPASS) to help tackle HIV/AIDS in the Southern part of U.S.
- Through the Gilead HIV Age Positively initiative, the company plans to improve care, provide education, and inform policy for people who are living with HIV.
It should be noted that older sources were used in our research in order to provide a comprehensive history of Gilead Sciences as most recent sources (2-year period) did not have the information needed to address some parts of the research especially in aspects of the company's mergers and acquisitions.