The $5 billion deal that Gilead CEO Daniel O’Day presented as his signature move shortly after his arrival at the company two years ago has gone up in flames.
Gilead announced Wednesday that it and partner Galapagos NV stopped the Phase 3 studies of a drug called zirataxestat, for idiopathic pulmonary fibrosis, because an independent data monitoring committee said the drug’s potential benefits were unlikely to outweigh its risks. That follows the failure of filgotinib, for rheumatoid arthritis, to reach the market.
So does the recent dividend increase announcement count as a field goal since I cannot see any touchdown in the near term?
Comments are closed.