Gilead's R&D Leadership Change Is End Of Bischofberger Era
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.
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After several staff departures, Gilead consolidates its research arm under CEO oversight, while welcoming another Roche/Genentech alum.
Gilead projects roughly $200m in sales growth for its CAR-T product Yescarta, despite the drug’s modest $6m sequential growth during the fourth quarter. For 2019 overall sales, the company projects slight growth, if any.
Key strategy updates are coming: GSK will unveil its new R&D approach, Biogen will update investors on its Alzheimer's plans, and investors are keen to find out whether or not Lilly will sell its animal health franchise. Investors will also be keeping an eye on how Gilead is faring with its move into oncology.