SAN DIEGO — Gilead Sciences (GILD) has spent years and billions of dollars to build out its oncology business, most notably by acquiring the cancer cell therapy developer Kite Pharma for $12 billion in 2017. But all that investment, which now includes the approved CAR-T treatment called Yescarta, has yet to deliver commercially.
Yescarta sales are growing each quarter (now totaling $175 million year to date), but the product barely makes a dent in Gilead’s overall income statement. By acquiring Kite, Gilead (GILD) became a leader in cell therapy but it has no presence in the larger and more lucrative immuno-oncology market where Merck (MRK), Roche (RHHBY), and Bristol-Myers Squibb (BMY) dominate.
Unlock this article by subscribing to STAT Plus and enjoy your first 30 days free!
GET STARTEDWhat is it?
STAT Plus is STAT's premium subscription service for in-depth biotech, pharma, policy, and life science coverage and analysis. Our award-winning team covers news on Wall Street, policy developments in Washington, early science breakthroughs and clinical trial results, and health care disruption in Silicon Valley and beyond.
What's included?
- Daily reporting and analysis
- The most comprehensive industry coverage from a powerhouse team of reporters
- Subscriber-only newsletters
- Daily newsletters to brief you on the most important industry news of the day
- Online intelligence briefings
- Frequent opportunities to engage with veteran beat reporters and industry experts
- Exclusive industry events
- Premium access to subscriber-only networking events around the country
- The best reporters in the industry
- The most trusted and well-connected newsroom in the health care industry
- And much more
- Exclusive interviews with industry leaders, profiles, and premium tools, like our CRISPR Trackr.
About the Author
Interested as investor
clearly, overpaid for it
The interest that I have, is how closely connected is Novartis and Mylan? I have several different issues about the connection that they might have as a merger company or, are they each one company, without any inextricably connected contracts, or not?