Abstract
Gilead Sciences is a biopharmaceutical company that discovers, develops and
commercialises ethical drugs. This report provides a full review of the
company’s activities together with sales forecasts for key products to
2011.
Gilead Sciences, incorporated on 22nd June 1987, and headquartered in Foster
City, CA, is a biopharmaceutical company that discovers, develops and
commercialises ethical drugs. Traditionally, the company has predominantly
developed treatments for life-threatening infectious diseases, however, in
2006, Gilead expanded its research, development and commercial focus to
include respiratory and cardiopulmonary disease through the acquisition of two
pharmaceutical companies.
Gilead attributes its recent success and growing revenue to strong global
organisation and infrastructure. The company intends to continue investment in
improving this infrastructure to facilitate ongoing growth in short- to
medium-term. In 2006, Gilead undertook a strategic realignment of its
international commericial organisation to better build, manage and expand its
presence in new and existing markets. Gilead is analysing and restructuring
the way it distributes products as well as enhancing its manufacturing
capabilities in order to cope with growing demand for its products. The
acquisition of Raylo Chemicals was a core component of this strategy.
The cost of funding corporate development opportunities (including three
significant acquisitions in 2006), building infrastructure and meeting daily
operating needs continued to be an area of management focus in 2006. During
this fiscal period, Gilead achieved record sales, however, increased costs
resulted in significant losses in operating and net income. For 2007, Gilead
hopes to maintain sales growth whilst achieving a greater balance with
corporate spending. The company also recognises its strong reliance on its
corporate partners, and hopes to maintain strong working relationships
especially with Roche, Bristol-Myers Squibb, Merck & Co and GlaxoSmithKline.
In addition to Gilead’s various collaborations with other companies and
research institutions, the company is seeking to add to its product portfolio
through its own internal and clinical development programmes. The acquisitions
of Myogen and Corus Pharma have significantly expanded the scope of
Gilead’s research efforts.
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