Daniel O'Day says Gilead is in an 'acquisitive mode'
Gilead has about $25 billion in cash on hand as of last quarter — and people have been clamoring to know whether the company’s got an acquisition plan.
“People are worried about the cash in our pocket,” Gilead CEO Daniel O’Day told senior reporter Adam Feuerstein, speaking last night at this week’s STAT Summit. The company, he added, is in an "acquisitive mode."
Gilead's path forward will be in the oncology space, he said, where the company can find areas to stand out — as opposed to investing in me-too ideas, as many biotechs are wont to do these days. “I do believe that Gilead is in a sweet spot,” O’Day said. “Sometimes I refer to it as a teenager in an adult’s body: It’s still an entrepreneurial biotech company, but it has this extraordinary firepower.”
Read more.
“People are worried about the cash in our pocket,” Gilead CEO Daniel O’Day told senior reporter Adam Feuerstein, speaking last night at this week’s STAT Summit. The company, he added, is in an "acquisitive mode."
Gilead's path forward will be in the oncology space, he said, where the company can find areas to stand out — as opposed to investing in me-too ideas, as many biotechs are wont to do these days. “I do believe that Gilead is in a sweet spot,” O’Day said. “Sometimes I refer to it as a teenager in an adult’s body: It’s still an entrepreneurial biotech company, but it has this extraordinary firepower.”
Read more.
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