Gilead Seeks to Hire Roche’s Daniel O’Day as CEO

Gilead Sciences Inc, an American biotechnological company is pondering to appoint Roche Holding AG’s Chief Operating Officer Daniel O’Day as new CEO. The company wants to uplift its sales with lucrative assistance from industry veteran executive O’Day, as reported by sources.

Gilead likely to announce the hiring on Monday. O’Day has been serving from a long time at Roche Holding AG and his recent switch would be very precious for both of the companies. In the long run, while helming as an executive, O’Day ran a number of launches of cancer and other kinds of drugs, he has been steered the business to the top.

Earlier in July Gilead’s CEO said that he probably withdraw company at the end of 2018, from the same moment the company is in the quest of an optimistic and strong leader.

The company is looking forward to driving its revenue full of force also seeking to boost the stock price. Some of its profitable products such as Sovaldi and Harvoni have helped to the gross sales of the company which was reported $32.6 billion in 2015.

However, the company gets failed to be persistent with the noteworthy revenue, because, following the incidence pricing competition had emerged at a tremendous level and market was also suffering low drug demand. Hence, according to the projection for this year, the company revenue will reach $21.7 billion in 2018.

Mr. O’Day would start by new amalgamations and research and development contracts as the company will provide him funds of $28 billion along with some short-term investments.

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