Chief Medical Officer Merdad Parsey to Leave Gilead Early 2025

Rhea-AI Summary

Gilead Sciences (Nasdaq: GILD) has announced that Chief Medical Officer Merdad Parsey, MD, PhD, will leave the company in early 2025. Dr. Parsey will continue in his role until Q1 2025 and assist with the transition. During his five-year tenure, Dr. Parsey played a important role in strengthening and diversifying Gilead's portfolio, which has more than doubled under his leadership.

The company now has 54 ongoing clinical trials across virology, oncology, and inflammation. Dr. Parsey's contributions include advancing market-leading treatments in virology and establishing Gilead's oncology pipeline. CEO Daniel O'Day praised Dr. Parsey's significant contributions and expressed confidence in the company's future growth based on the strong, diverse clinical pipeline developed during his tenure.

Positive

• Portfolio more than doubled under Dr. Parsey's leadership
• 54 ongoing clinical trials across multiple therapeutic areas
• Advancement of market-leading treatments in virology
• Establishment of oncology pipeline and therapeutics

Negative

• Chief Medical Officer leaving the company
• Potential disruption in leadership during transition period

FOSTER CITY, Calif.--(BUSINESS WIRE)-- Gilead Sciences, Inc. (Nasdaq: GILD) announced today that Chief Medical Officer Merdad Parsey, MD, PhD, will leave the company early next year. While the company works to identify a successor, Dr. Parsey will continue as Chief Medical Officer until the first quarter of 2025 and support this transition over the next several months.

“On behalf of everyone at Gilead, I want to thank Merdad for his significant contributions as our Chief Medical Officer over the last five years. These were pivotal years for the company as we worked to strengthen and diversify the portfolio, and Merdad played a fundamental role in our success,” said Daniel O’Day, Chairman and Chief Executive Officer, Gilead. “We have more than doubled our portfolio under Merdad’s leadership, and with 54 ongoing clinical trials across virology, oncology, and inflammation, we are well positioned to build on our success for the future.”

Dr. Parsey joined Gilead in November 2019 and is responsible for overseeing the company’s global clinical development and medical affairs organizations. During his tenure, he led the growth of the development organization, specifically with the advancement of market leading treatments in virology and the establishment of Gilead’s oncology pipeline and therapeutics.

“It has been a privilege to lead the development team, especially as we have worked to deliver transformative medicines for people with HIV, COVID-19, and cancer,” said Dr. Parsey. “I am profoundly excited about the work we have done to build a strong, diverse clinical pipeline that has tremendous potential to deliver on our commitment to improve health for people around the world.”

About Gilead Sciences

Gilead Sciences, Inc. is a biopharmaceutical company that has pursued and achieved breakthroughs in medicine for more than three decades, with the goal of creating a healthier world for all people. The company is committed to advancing innovative medicines to prevent and treat life-threatening diseases, including HIV, viral hepatitis, COVID-19, and cancer. Gilead operates in more than 35 countries worldwide, with headquarters in Foster City, Calif.

Forward-Looking Statement

This press release includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 that are subject to risks, uncertainties and other factors, including the risk that Dr. Parsey may leave prior to the currently anticipated timeline; challenges that Gilead may encounter in identifying a successor to Dr. Parsey; and any assumptions underlying any of the foregoing. These and other risks, uncertainties and factors are described in detail in Gilead’s Quarterly Report on Form 10-Q for the quarter ended March 31, 2024, as filed with the U.S. Securities and Exchange Commission. These risks, uncertainties and other factors could cause actual results to differ materially from those referred to in the forward-looking statements. All statements other than statements of historical fact are statements that could be deemed forward-looking statements. The reader is cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties and is cautioned not to place undue reliance on these forward-looking statements. All forward-looking statements are based on information currently available to Gilead, and Gilead assumes no obligation and disclaims any intent to update any such forward-looking statements.

For more information about Gilead, please visit the company’s website at www.gilead.com, follow Gilead on X/Twitter (@Gilead Sciences) and LinkedIn (@Gilead-Sciences).

View source version on businesswire.com: https://www.businesswire.com/news/home/20240716867026/en/

Ashleigh Koss, Media

public_affairs@gilead.com



Jacquie Ross, Investors

investor_relations@gilead.com

Source: Gilead Sciences, Inc.

FAQ

When will Gilead's Chief Medical Officer Merdad Parsey leave the company?

Dr. Merdad Parsey will leave Gilead Sciences (GILD) in early 2025, specifically during the first quarter of 2025.

How many ongoing clinical trials does Gilead (GILD) currently have?

Gilead Sciences (GILD) currently has 54 ongoing clinical trials across virology, oncology, and inflammation.

What were Dr. Parsey's main achievements during his tenure at Gilead (GILD)?

During his tenure at Gilead (GILD), Dr. Parsey led the growth of the development organization, advanced market-leading treatments in virology, and established the company's oncology pipeline and therapeutics. The company's portfolio more than doubled under his leadership.

How long has Dr. Merdad Parsey been the Chief Medical Officer at Gilead (GILD)?

Dr. Merdad Parsey joined Gilead Sciences (GILD) as Chief Medical Officer in November 2019, serving in the role for approximately five years.