Roche's Daniel O'Day Cements Gilead's Oncology Commitment, but M&A Track Record Minimal
We're not making any changes to our $86 per share fair value estimate for Gilead or CHF 333/$42 fair value estimates for Roche following the announcement that the CEO of Roche's pharmaceutical division, Daniel O'Day, will leave Roche at the end of 2018 and become chairman and CEO at Gilead effective March 1, 2019. O'Day will be replaced by Bill Anderson, who is currently CEO of Roche's Genentech. Anderson has been at Roche since 2006 and has a background in engineering as well as experience lead...
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