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Gilead Sciences : Kevin Young CBE, Gilead's Chief Operating Officer, to Retire

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10/05/2017 | 06:02pm CEST

By a News Reporter-Staff News Editor at Pharma Business Week -- Gilead Sciences, Inc. (Nasdaq: GILD) announced that Kevin Young CBE, Chief Operating Officer, plans to retire, effective early 2018. Mr. Young will remain with Gilead through the first quarter of next year and in an advisory capacity thereafter (see also Pharmaceutical Companies).

Mr. Young joined Gilead in 2004 to lead the company's worldwide commercial operations. He oversaw the introduction of multiple new products, including the first single tablet regimens for HIV and the first oral direct acting antiviral regimens for chronic hepatitis C. In 2014, Mr. Young retired from his full-time role and served as a senior advisor to Gilead until 2016, when he returned to assume the role of Chief Operating Officer. Prior to Gilead, he spent more than 20 years in the biopharmaceutical industry, first with ICI Pharmaceuticals and subsequently with Amgen. Mr. Young has undergraduate and graduate degrees in Sports Science and Exercise Physiology from Liverpool and Nottingham, England. In 2011, he was appointed a Commander of The British Empire, one of Great Britain's highest civilian honors, in recognition of his "services to the healthcare and pharmaceutical industries."

"Since Kevin joined Gilead in 2004, he has worked tirelessly to build Gilead's commercial success across numerous therapeutic areas and geographies," said John Martin, PhD, Executive Chairman. "Together with the Board of Directors, I am grateful that he came out of semi-retirement in May 2016 to strengthen Gilead and help establish the strategy and execute on plans for our next phase of growth in cell therapy."

"Kevin has had an impact on Gilead - and by extension on the field of medicine and the lives of patients - that is seldom seen," said John Milligan, PhD, President and Chief Executive Officer. "Those who have had the opportunity to work alongside Kevin know that he possesses both a deep commitment to his work and unparalleled leadership abilities. I am delighted that he will be helping us manage through a period of change over the next several months and I am deeply grateful to Kevin for his contributions to Gilead and to the lives of millions of people around the world." About Gilead Sciences Gilead Sciences is a biopharmaceutical company that discovers, develops and commercializes innovative therapeutics in areas of unmet medical need. The company's mission is to advance the care of patients suffering from life-threatening diseases. Gilead has operations in more than 30 countries worldwide, with headquarters in Foster City, California.

Keywords for this news article include: Pharmaceutical Companies, Biopharmaceuticals, Drugs and Therapies, Gilead Sciences Inc..

Our reports deliver fact-based news of research and discoveries from around the world. Copyright 2017, NewsRx LLC

(c) 2017 NewsRx LLC, source Health Newsletters

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Financials ($)
Sales 2018 20 794 M
EBIT 2018 10 734 M
Net income 2018 6 433 M
Debt 2018 13 028 M
Yield 2018 3,18%
P/E ratio 2018 14,45
P/E ratio 2019 13,16
EV / Sales 2018 5,09x
EV / Sales 2019 5,17x
Capitalization 92 917 M
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Mean consensus OUTPERFORM
Number of Analysts 26
Average target price 85,8 $
Spread / Average Target 20%
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Managers
NameTitle
John F. Milligan President, Chief Executive Officer & Director
John C. Martin Chairman
Robin L. Washington CFO, Principal Accounting Officer & Executive VP
Andrew Cheng Chief Medical Officer & Executive Vice President
John G. McHutchison Chief Scientific Officer
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