GILD - Gilead Sciences, Inc.
| Previous Close | 66.26 |
| Open | 66.98 |
| Bid | 67.91 x 1400 |
| Ask | 67.92 x 800 |
| Day's Range | 66.84 - 68.24 |
| 52 Week Range | 60.32 - 79.61 |
| Volume | 4,798,921 |
| Avg. Volume | 6,566,001 |
| Market Cap | 86.415B |
| Beta (3Y Monthly) | 1.15 |
| PE Ratio (TTM) | 15.00 |
| EPS (TTM) | 4.53 |
| Earnings Date | Jul 30, 2019 |
| Forward Dividend & Yield | 2.52 (3.80%) |
| Ex-Dividend Date | 2019-06-13 |
| 1y Target Est | 79.62 |
- Market Realist•1 hour ago
Gilead Sciences Expands Collaboration with Galapagos
On July 14, Gilead Sciences announced that it will expand its collaboration with Galapagos (GLPG).
- Investor's Business Daily•3 hours ago
Gilead Pens $5 Billion Research Deal — Why Analysts Still Want A Merger
Galapagos stock rocketed to an all-time high Monday on a deeper $5.1 billion research and development deal with giant biotech company Gilead Sciences. Gilead stock also gained on the news.
- Bloomberg•5 hours ago
Gilead Risks Regrets on Pricey Galapagos Partnership
(Bloomberg Opinion) -- Gilead Sciences Inc.’s new CEO Daniel O'Day is trying to replicate the successful playbook of his former employer Roche Holding AG, the Swiss pharma giant he worked at for more than 30 years. On Sunday, Gilead announced that it would invest $5.1 billion to deepen an existing relationship with Belgian biotechnology firm Galapagos NV. O'Day isn't just committing to Galapagos – he’s committing to the idea of research partnerships that stop short of outright M&A. The deal includes a 10-year standstill agreement that restricts Gilead's ability to acquire the company. O'Day thinks that leaving Galapagos independent will keep it innovative, a bet that paid off for Roche and its productive long-term partnerships with Genentech and Chugai Pharmaceutical Co. That nebulous benefit will have to come through in a big way to justify the price and structure of this deal. Gilead is paying $3.4 billion upfront to gain rights to six drugs in clinical trials and access to a suite of earlier-stage programs. It is also making a $1.1 billion equity investment in Galapagos.The total outlay is a scant $2 billion less than the market cap of Galapagos before the deal was announced, and is above what the company was worth as recently as March. On top of that, Gilead already owned 12 percent of Galapagos and rights to potential blockbuster arthritis drug filgotinib from a $725 million deal completed in 2015. O'Day also isn't done paying up. He will have to shell out more cash to opt in to future programs and for development costs. Gilead will also pay a significant sales royalty if any drugs are approved. And Galapagos will retain European rights for most of its medicines. The potential return of this deal is lower than an outright acquisition, and Gilead didn't seem to get much of a discount. It’s giving up a lot to limit its risk and test the abstract notion that partnerships are superior. The company's late-stage pipeline is sparse, and it is too reliant on its HIV franchise. It’s not in a position to leave upside on the table. There’s a chance that the deal could work out. Gilead’s only has to pay $150 million to gain exposure to programs that are currently in early stages; that could wind up being a relative steal at some point in the next decade. Investors may feel a twinge with every opt-in and royalty check, however. Gilead had chances during the past few years to acquire Galapagos at a lower price than what it’s paying for the partnership now. That feels like a missed opportunity, and may seem even more so if its pipeline and R&D platform turn out to be as strong as O’Day seems to think they are.To contact the author of this story: Max Nisen at mnisen@bloomberg.netTo contact the editor responsible for this story: Beth Williams at bewilliams@bloomberg.netThis column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.Max Nisen is a Bloomberg Opinion columnist covering biotech, pharma and health care. He previously wrote about management and corporate strategy for Quartz and Business Insider.For more articles like this, please visit us at bloomberg.com/opinion©2019 Bloomberg L.P.
- Benzinga•6 hours ago
Galapagos Notches $3.95B Upfront Investment From Gilead
Gilead said it will make a $3.95-billion upfront payment and $1.1-billion equity investment in the Belgian pharmaceutical company, according to a Sunday press release. Galapagos intends to use the proceeds to expand its research and development programs. As part of a 10-year global research and development collaboration; Gilead will have access to a portfolio of compounds, including six molecules in clinical trials, more than 20 preclinical programs and a drug discovery platform. Galapagos shares were trading higher by 16.34% at $169.56 at the time of publication.
- American City Business Journals•6 hours ago
How Gilead's $5.1 billion deal could steal a page from Genentech-Roche hookup
Daniel O'Day watched as Roche, where he was a top executive, took a piece of Genentech, then ultimately bought the South San Francisco company. Now as the chairman and CEO of Foster City-based Gilead Sciences, a deal with a Belgian biotech feels similar.
- Barrons.com•6 hours ago
Gilead Sciences Says No to Megamerger, Signs a Deal to Collaborate With Galapagos
Shares of the European drugmaker Galapagos are soaring after (GILD) said over the weekend that it would spend $5 billion on a collaboration agreement with the firm. Instead of embarking on a pharmaceutical megamerger, of the sort Barron’s has argued against, Daniel O’Day, Gilead’s new CEO, signed a 10-year deal with longtime collaborator Galapagos (ticker: GLPG) to boost his company’s pipeline of potential treatments. “I firmly believe [in] the concept that we’ve come up with, the concept of enabling Galapagos with a significant capital infusion for them to further invest in that research and at the same time keeping their independence as a premier European biotech company that allows them to recruit the very best talent, make their own decision and progress programs according to their judgment,” O’Day said on a conference call about the deal.
- Motley Fool•6 hours ago
Why Galapagos NV Stock Is Soaring Today
Gilead Sciences decided to inject $5.1 billion into its R&D partner Galapagos NV over the weekend.
- Zacks•7 hours ago
Gilead-Galapagos Ink $5.1B Deal for Additional Compounds
Gilead (GILD) collaborates with Galapagos for additional compounds for $5.1 billion and ups its stake in the latter to 22%.
- Reuters•7 hours ago
Factbox: The Galapagos drugs pipeline that has drawn in Gilead
- Market Exclusive•9 hours ago
Market Morning: Gilead Moves On Galapagos, Hong Kong Keeps Fighting, Trump Tweets
Gilead Makes Galapagos Move AIDS and hepatitis C giant Gilead (NASDAQ:GILD) is making another move on Galapagos NV (NASDAQ:GLPG) to gain rights outside Europe for certain treatments. Gilead agreed to pay nearly $4 billion plus another $1.1 billion in shares at $158.49 per share, increasing its stake in the company to 22% from 12.3%. The […]The post Market Morning: Gilead Moves On Galapagos, Hong Kong Keeps Fighting, Trump Tweets appeared first on Market Exclusive.
- Investing.com•11 hours ago
Stocks - Citigroup, Amazon.com, Rise Premarket; Boeing, CIRCOR Fall
Investing.com - Stocks in focus in premarket trading on Monday:
- TheStreet.com•10 hours ago
Gilead Boosts Investment in Inflammatory Specialist Galapagos by $5.1 Billion
Gilead Sciences said Monday that it will boost its stake in Belgian listed biotech Galapagos NV by more than $5 billion in a "transformative" deal that could tap new opportunities for the California-based group in fibrosis and arthritis.
- Bloomberg•12 hours ago
Gilead to Boost Stake in Galapagos as Part of $5.1 Billion Deal
(Bloomberg) -- Gilead Sciences Inc. agreed to pay $5.1 billion to raise its stake in biotechnology company Galapagos NV to deepen its research into inflammatory diseases and other disorders, sending the Belgian drugmaker’s stock to an all-time high.The deal is the largest Gilead has executed since new Chief Executive Officer Dan O’Day took the reins in March as he attempts to bolster the San Francisco giant’s drug pipeline. Gilead is in danger of becoming a victim of its own success after launching some of the top drugs of all time, its bestselling hepatitis-C franchise. Sales from those therapies have since declined due to increased competition.Under the agreement, Gilead, which will pay $3.95 billion upfront to Mechelen, Belgium-based Galapagos and invest $1.1 billion to raise its stake to 22% from 12.3%, the companies said in a statement. The investment, at 140.59 euros a share, is 9.7% higher than the Belgian company’s closing price on Friday. Galapagos shares surged as much as 17% on Monday, reaching 149.55 euros a share.“Gilead will significantly expand its pipeline in a smart and financially savvy expanded partnership deal with Galapagos, essentially gaining options on everything in their pipeline without having to acquire the company full out,” Jefferies analysts including Michael J. Yee and Andrew Tsai wrote in a note.As Gilead seeks to fill the growing hole left from its hepatitis drugs, the Galapagos announcement may signal a shift in focus. The smaller biotech has no oncology programs and instead focuses on research into diseases that have to do with inflammation and fibrosis, which is a kind of internal scarring.Gilead has also had research programs in such diseases, including through its collaboration with Galapagos, though some had speculated it may stake its future on cancer. Gilead is already the biggest shareholder of the Belgium company before the increase in stake, according to data compiled by Bloomberg. Now it gets the option to license all of Galapogos’s future, late-stage drug candidates.Gilead CEOO’Day, who joined Gilead from cancer giant Roche AG, said he’s not done making good on his promise to expand the pipeline. He noted the deal almost doubles Gilead’s research capacity and establishes a strong research base in Europe where the company has historically not been as active.“In no way is this the only thing that we’re looking at or the only thing that we’re going to do,” O’Day said in an interview. “You can look at this like it’s the beginning.”Gilead and Galapagos held talks about an expanded partnership prior to O’Day joining the company. He was briefed on those discussions after taking the top job and within the first couple of weeks, got to know the CEO of Galapagos better. Following those talks, the pair decided to being finalizing the agreement.Jobs in EuropeThis is a “science-driven deal,” Onno van de Stolpe, founder and chief executive officer of Galapagos, said in an interview. Gilead will be taking on more of the commercial side for Galapagos, helping the smaller company to focus on research. “We can now do more of what we’re good at.”The money being invested beyond the equity stake will be used largely to double Galapagos’s R&D staff to 1,000 from 500 over an unspecified time, Van de Stolpe said. Those jobs will be added in Belgium, the Netherlands and France. “It’s massive funding -- we don’t have a detailed plan yet on how to spend it,” he said.The pact includes a provision in which Gilead’s stake could rise to 29.9%, if Galapagos shareholders approve two warrants. The companies were already partners on an experimental drug for rheumatoid arthritis. That drug, filgotinib, hit its main goal in a late-stage study in March, triggering the Belgian biotech company’s shares to surge by the most in six months.Galapagos shares have risen 59% since the start of the year, compared with the 5.9% gain in Gilead’s stock.O’Day had a reputation as a dealmaker while at Roche, likely one of the reasons he was selected for Gilead’s top job at a time when the company needs to look externally to drive growth. He said that in this case, the companies opted for a partnership-style deal rather than a full takeover because full mergers can often destroy innovation as research and executive teams disband. Roche’s deal philosophy is much the same with the Swiss giant opting to leave many its units independently managed, even if it owns them in full.Gilead spent about $12 billion to buy Kite Pharma in 2017 for its research into a cutting-edge therapies known as CAR-T. While the treatments can prove near-miraculous for some patients, CAR-Ts have yet to become large sales drivers, falling far below the revenues Gilead needs to replace declining sales from its hepatitis-C franchise.Gilead is not the only large company with fading blockbusters. In June, AbbVie agreed to buy Allergan in a $63 billion megadeal in a bid to replace its bestselling Humira, the bestselling drug in the world. Celgene Corp. faced similar questions as the patent of its bestselling cancer drug aged before Bristol-Myers Squibb agreed to buy it for $74 billion in January.To contact the reporters on this story: Eric Pfanner in London at epfanner1@bloomberg.net;Rebecca Spalding in Boston at rspalding@bloomberg.netTo contact the editors responsible for this story: James Ludden at jludden@bloomberg.net, ;Drew Armstrong at darmstrong17@bloomberg.net, Kevin Miller, Linus ChuaFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
- Reuters•13 hours ago
Gilead invests $5 billion to deepen ties with biotech Galapagos
The move will bring Gilead's new chief executive Daniel O'Day growth opportunities in Galapagos's specialist areas including fibrosis and arthritis, and give Galapagos deep funds to develop and commercialise its drugs. AbbVie's Humira, used to treat rheumatoid arthritis and spondylitis, racked up nearly $20 billion in sales in 2018, while Amgen and Pfizer's Enbrel still brings in $7 billion annually after 20 years on the market. As part of the deal, Gilead will spend $1.1 billion to lift its Galapagos stake to 22% from 12.3%.
- Reuters•18 hours ago
PRESS DIGEST- Financial Times - July 15
British digital bank Revolut is nearing the appointment of Martin Gilbert as its new chairman as the bank looks to strengthen its governance. Gilead Sciences will invest $5.1 billion in Galapagos NV to raise its stake in the Belgian biotech group and access its pipeline of drugs under development. GlaxoSmithKline Plc is to hire Jonathan Symonds, the current deputy group chairman of HSBC, as its new chairman to oversee the British drugmaker's break-up.
- GlobeNewswire•yesterday
GILEAD AND GALAPAGOS ENTER INTO TRANSFORMATIVE RESEARCH AND DEVELOPMENT COLLABORATION
- Gilead to Make $3.95 Billion Upfront Payment and $1.1 Billion Equity Investment - - Gilead Gains Access to Galapagos` Differentiated Drug Discovery Platform and Current and Future Pipeline Outside of ...
- Business Wire•yesterday
Gilead and Galapagos Enter Into Transformative Research and Development Collaboration
Gilead Sciences, Inc. (GILD) and Galapagos NV (Euronext & NASDAQ: GLPG) today announced that they have entered into a 10-year global research and development collaboration. Through this agreement, Gilead will gain access to an innovative portfolio of compounds, including six molecules currently in clinical trials, more than 20 preclinical programs and a proven drug discovery platform.
- Financial Times•yesterday
Gilead to raise stake in Belgian biotech in $5.1bn deal
US drugmaker Gilead Sciences has agreed a $5.1bn deal to increase its stake in Belgian biotech group Galapagos and gain access to a pipeline of drugs that are under development. Gilead will acquire the rights outside Europe to two additional drugs that are in development, which target osteoarthritis and lung scarring. The American company is paying an upfront fee of $3.95bn, and will also invest $1.1bn to nearly double its stake in Galapagos to 22 per cent. It will make additional payments if the two experimental drugs named in the deal are approved in the US.
- Zacks•4 days ago
Trump Drops Drug Rebate Proposal: What's Next and What Stocks to Play
The Trump administration announced Thursday that it's deciding to withdraw its proposal to eliminate rebates from government drug plans.
- Zacks•4 days ago
Gilead Sciences (GILD) Stock Sinks As Market Gains: What You Should Know
Gilead Sciences (GILD) closed at $66.19 in the latest trading session, marking a -1.88% move from the prior day.
- Business Wire•4 days ago
Gilead Appoints Christi L. Shaw as Chief Executive Officer of Kite
Gilead Sciences, Inc. (GILD) today announced that Christi L. Shaw will join the company as Chief Executive Officer of Kite, a Gilead Company, and will become a member of Gilead’s senior leadership team. Prior to joining Lilly, Ms. Shaw most recently served as U.S. Country Head and President of Novartis Corp. and North American Head of Novartis Oncology.
- Investor's Business Daily•4 days ago
Gilead Stock Is Among The Biggest Biotech Stocks — But Should You Buy It?
Gilead is one of the biggest biotech companies. But recent news and earnings have been mixed. So, is Gilead stock a buy right now? Read on for a full analysis.
- Business Wire•4 days ago
Gilead Sciences and Renown Institute for Health Innovation Announce Strategic Collaboration to Advance Understanding of Nonalcoholic Steatohepatitis (NASH)
Gilead Sciences, Inc. (GILD) and the Renown Institute for Health Innovation (IHI) today announced a strategic collaboration to collect and analyze genetic and electronic health data that can enhance the understanding of nonalcoholic steatohepatitis (NASH) and potentially inform development of treatment options for the disease. Under the terms of the collaboration and license agreement, Gilead will provide funding to Renown IHI to sequence and analyze the DNA of 15,000 individuals living with NASH or nonalcoholic fatty liver disease (NAFLD) as well as a control cohort of 40,000 individuals in Nevada.
