Gilead plans Israel marketing office to remain with NewPharm drug chain

Gilead Sciences ($GILD) reportedly plans to open a marketing office in Israel where it sells its products through NewPharm, an Israel drug store chain.

According to Globes, Gilead would retain its relationship with NewPharm after it establishes the local office.

The news company said that with the new office, Gilead would become the first "new generation U.S. biotech" to do so. It added that Gilead markets several tens of millions of dollars' worth of its products annually through NewPharm.

Gilead has adopted several strategies for sales outside the U.S., including a closely watched licensing deal with generic drug makers in India aimed at making its blockbuster hep C powerhouse Sovaldi available cheaper.

In a Japan deal the company has outlicensed two new tenofovir-based HIV drugs to fellow Japan-based drugmaker Torii Pharmaceutical to market at home with exclusive rights. JT, in turn, has exclusive Japan development rights from the owner of the drugs, Gilead.

- here's the story from Globes