What is Gilead Sciences?
Gilead Sciences Inc. is a US biopharmaceutical company. Following a series of mergers and acquisitions, Gilead is now one of the biggest players in its field with almost 9,000 employees working all over the globe. A portfolio of shipped products includes medicals for HIV treatment and HIV prevention. Gilead focuses on medical products that serve to cure oncology, liver diseases, cardiovascular disorders and many other severe health conditions. Gilead has a wide network of partnerships and collaborations.
What does the company do?
A research-based biopharmaceutical company, Gilead Sciences, discovers, produces and markets innovative healthcare products that are capable of transforming and simplifying medical care for people, who suffer from life-threatening diseases globally.
The portfolio of Gilead’s products and investigational drugs includes innovative treatments for AIDS/HIV, cancer, respiratory, inflammatory, liver diseases and cardiovascular conditions.
A bit of Gilead Sciences’ history
Gilead Sciences was established in June 1987. The company primarily focused on antiviral medicines. It concentrated on gene therapy, estimating the potential of genetic code blockers. The development and research of small molecule antiviral therapeutics started in 1991 with licensing of a group of nucleotide compounds (tenofovir was one of them) that further became widely-used anti-retroviral medicines. In 1990, Gilead collaborated with Glaxo for the development and research of genetic code blockers, known as antisense.
Who founded Gilead Sciences?
Gilead Sciences was founded by Michael L. Riordan, a 29-year-old doctor, who graduated from the Johns Hopkins School of Medicine, Washington University of St. Louis and the Harvard Business School. Riordan worked as the company’s CEO from its inception till 1996.
Establishing the company and its vision, Michael L. Riordan collaborated with three major scientific advisors, including Doug Melton of Harvard, Peter Dervan of Caltech and Harold Weintraub of the Fred Hutchinson Cancer Research Center.
A venture capital firm Menlo Ventures, where Riordan worked for one year, made the first investment of $2 million into Gilead Sciences.
Current size, team and locations
Headquartered in Foster City, California, US, the company operates across 6 continents and has a team of almost 9,000 employees. Gilead has a portfolio of 24 marketed products and is rapidly expanding. The research and development division works on over 400 clinical studies, evaluating compounds that potentially will become the next generation of efficient medicines.
Quick facts about Gilead Sciences
- Developing access programmes to provide HIV and viral hepatitis medicines at significantly reduced prices in 134 low- and middle-income countries, the company serves approximately 10 million people in the developing world with Gilead’s HIV/AIDS therapies.
- It is said that Riordan wanted to attract Warren Buffett as Gilead’s board member and investor, but was unsuccessful.
- In 2005 the company created the Gilead Foundation, a non-profit organisation that is trying to improve the well-being and health of underserved communities in the United States and globally.
- In 2016 the company gained $30.4 billion in revenue and was ranked the second in the Barron’s 500 rankings. The company also became the first in Business Insider’s list of top companies to work for.
How to learn the Gilead Sciences share price?
Gilead Sciences shares are listed and traded on the NASDAQ stock exchange under the ticker symbol GILD. The company is a component of the NASDAQ-100, S&P 500 and S&P 100 indices. Join Capital.com to trade CFDs on the Gilead Sciences share price fluctuations and follow the GILD chart in real-time.