Gilead’s M&A roadmap
During a 30-minute breakout session with investors, Gilead Sciences CEO Dan O’Day and CFO Andy Dickinson offered more details about the biotech’s plans to buy or partner with others.
Does Gilead have plans to make acquisitions? Yes, said O’Day, although deals will be small to medium-sized — what he described as “bolt-on acquisitions.” Those hoping for Gilead to buy Vertex Pharmaceuticals will be disappointed. What types of smaller biotech companies might Gilead buy? O’Day said Gilead plans to stick with its strengths, meaning antivirals, immuno-modulation, and oncology. Gilead is not buying Amarin — sorry, Amaroids.
In oncology, specifically, Gilead intends to focus partnerships and acquisitions on companies that compliment its existing Kite Pharma cell therapy business, O’Day said. That means Gilead isn’t interested in buying companies developing small molecules or targeted cancer drugs.
What about partnerships? Here, CFO Dickinson said Gilead has “transformational” intentions. “We would like to do at least one more Galapagos-type partnership in the next couple of years,” said Dickinson, referencing the $5 billion tie-up announced last summer. “You can’t do a lot of those, but they deliver value over time.”
Does Gilead have plans to make acquisitions? Yes, said O’Day, although deals will be small to medium-sized — what he described as “bolt-on acquisitions.” Those hoping for Gilead to buy Vertex Pharmaceuticals will be disappointed. What types of smaller biotech companies might Gilead buy? O’Day said Gilead plans to stick with its strengths, meaning antivirals, immuno-modulation, and oncology. Gilead is not buying Amarin — sorry, Amaroids.
In oncology, specifically, Gilead intends to focus partnerships and acquisitions on companies that compliment its existing Kite Pharma cell therapy business, O’Day said. That means Gilead isn’t interested in buying companies developing small molecules or targeted cancer drugs.
What about partnerships? Here, CFO Dickinson said Gilead has “transformational” intentions. “We would like to do at least one more Galapagos-type partnership in the next couple of years,” said Dickinson, referencing the $5 billion tie-up announced last summer. “You can’t do a lot of those, but they deliver value over time.”
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