After winning top reviews from the Harvard Business Review for his 2014 performance, Gilead's John Martin has picked up a "best CEO" nod from a prof at Dartmouth's Tuck School of Business.
A California cost-effectiveness panel is prepared to say this about Gilead Sciences' brand-new combination treatment for hepatitis C: It's cost-effective, even at an eye-popping price. But--and this is a big but--the state can't afford to pay it.
In what could be a test case for future payer lawsuits, the Southeastern Pennsylvania Transportation Authority (SEPTA) has sued Gilead Sciences over "exorbitant" pricing for its hepatitis C drug Sovaldi.
Fundamental scientific and patient advances, as well as the investors who embrace them, have transformed biotech in just the last few years. As this has coincided with a broader resurgence in the stock market, industry valuations have skyrocketed. Suddenly, big cap biotechs Gilead Sciences and Amgen are larger than all but four of their pharma peers as measured by market cap.
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The market price of a priority review voucher at the FDA just doubled. Canada's Knight Therapeutics has auctioned off its voucher--which can be turned in to the FDA in exchange for a regulatory shortcut on a drug decision--for $125 million to Gilead, one of the most aggressive developers in the industry.
Gilead Sciences is charting eye-popping sales for blockbuster Sovaldi and chalking up a key regulatory approval for its new hep C combo pill, Harvoni. But the company's third-quarter earnings fell short of analysts' estimates in light of a hefty Obamacare fee and lower-than-expected revenue for its top-selling hep C drug.
Anyone following the hepatitis C drug market knows that Express Scripts CMO Steve Miller has a strong point of view. He's been quite vocal about Gilead Sciences' pricing on Sovaldi, the first in a new generation of oral treatments. Now, he's turned to the Gilead follow-up to that drug, a combo med dubbed Harvoni that aims to take the place of older cocktails.
Pharma CEOs are doing a pretty good job at the helm--at least where the Harvard Business Review is concerned.
Gilead Sciences picked up a much-anticipated FDA approval for Harvoni, a combination therapy for hepatitis C that promises to cure the majority of patients without the need for painful injections that have plagued patients for years.