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Gilead Admits It Needs M&A To Resume Growth, But Stays Quiet

 
• By Joseph Haas

Sharply declining HCV sales, three upcoming patent expirations and a lack of near-term pipeline prospects other than HIV candidate bictegravir leave the specialty firm needing to spend some of its gigantic cash reserves on assets to revitalize its portfolio and/or stimulate the R&D engine.

Desperate businessmen

Even though Gilead Sciences Inc. CEO John Milligan conceded during the firm’s fourth quarter and full-year 2016 earnings call Feb. 7 that the company probably can’t return to growth in the near term without significant business development activity, management kept quiet about M&A prospects and strategy.

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