Gilead Sciences, Inc.
NEWS
Gilead’s emvistegrast delivered greater clinical response than placebo, setting up the asset for Phase 3 testing in ulcerative colitis as well as studies in other inflammatory diseases and bolstering the company’s push beyond its HIV portfolio.
A new biotech co-founded by Paul Stoffels has formed to take on the CAR T cell assets of Galapagos almost a year after the company—now known as Lakefront Biotherapeutics—abandoned them.
The Gilead Sciences deal, which include $135 million in upfront and near-term payments, marks a critical platform validation for Vir Biotechnology as investors await an upcoming readout in solid tumors.
40 Under 40 honorees’ accomplishments include co-developing the world’s first synthetic biology programming language for mRNA and co-founding and leading a company acquired for $700 million up-front and up to $1.225 billion in total consideration.
Workforce cuts this year at seven companies involved in recent mergers and acquisitions will cost over 1,300 employees their jobs. Affected businesses include Arcellx and Tourmaline Bio, acquired by Gilead Sciences and Novartis, respectively.
HIV remained Gilead’s strongest franchise in the second quarter, but the pharma is building out its pipeline beyond virology, particularly focusing on inflammation and oncology.
With fewer biopharmas making or planning workforce reductions so far year over year, layoff round size and M&A impact on headcounts will likely shape the number of employees who are ultimately on the chopping block.
Takeda’s cuts will go the deepest, affecting over 4,700 employees. Layoffs tied to M&A activity include BioNTech letting go of around 800 people at CureVac.
Biopharma is entering its second-quarter earnings season riding high on a wave of massive deals and venture capital flow, plus a clearing of regulatory and policy overhangs. What can industry watchers expect to hear on the upcoming investor calls?
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