Gilead’s Coronavirus Wonder-Drug Remdesivir Masks a Board Contagion – The Edge Calls for Spinoff
The Edge View...When Gilead Science, Inc.’s (GILD) CEO Daniel O’Day pushed the button on his March 28 open letter stating the firm’s new wonder-drug (the antiviral Remdesivir) could work against COVID-19, he had every hope the company's share price would soar - and he was right. The fact that GILD donated around 140,000 treatment courses to expedite its possible emergence into America’s emergency response offered a much-needed boost, and the company is now going full-steam ahead with the experimental drug’s pandemic PR strategy.
However, O’Day had other reasons to get ahead of the news agenda. Robin Washington, Gilead’s CFO of 11 years, left only 27 days earlier to join Google parent Alphabet’s board. Meanwhile, 10 other senior executives have departed the business in just two years, leaving O’Day’s existing board in mortal danger. Fresh CFO Andy Dickinson, who was promoted from Executive Vice President, Corporate Development and Strategy, should present a plan that can potentially revolutionise the research-based biopharmaceutical company he’s worked for since 2016.
Alongside O’Day, Dickinson could become a hero in the new dawn of Gilead Sciences, Inc.
Please see the attached PDF for our thoughts on GILD.
Gilead Sciences is a research-based biopharmaceutical company that discovers, develops and commercializes medicines. The company's primary areas of focus include viral diseases, inflammatory and fibrotic diseases and oncology. The company's products include: Biktarvy for the treatment of HIV-1 infection in certain patients; Vosevi?, a single tablet regimen of sofosbuvir, velpatasvir and voxilaprevir for the re-treatment of chronic hepatitis C virus infection in adults; Vemlidy? for the treatment of chronic hepatitis B virus infection in adults with compensated liver disease; and Yescarta (axicabtagene ciloleucel) for the treatment of adult patients with relapsed or refractory large B-cell lymphoma.
The Edge Group - Global Fundamental Catalyst Investing. The Edge provides investors with access to hidden corporate value from Global Special Situations using a pioneering approach to investments. Founded in 2005 by fund management and investment banking professionals to provide high quality, private equity-level research on Global Corporate Divestitures for the benefit of fundamental event-driven, growth and value-oriented investors in this difficult to track, but proven investment space.
The Edge will look to screen and analyze include Spinoffs; Reverse Morris Trusts; Squeeze Outs; Privatizations; Demutualization; Deep Discounted; Rights Issues; Rights Offering; Restructuring; Insider Purchases / Buying Change of Management / CEO Change; Deteriorating fundamentals; Post-Bankruptcy; Reorganization; Tender Offer; M&A Deals; Secondary Offering; Share Swap; Thrift Conversions; Share Buybacks; Activist; Mergers. All analyzed from a fundamental point of view.
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