Gilead taps Roche pharma exec as new CEO
Gilead is known for making hepatitis C and HIV medicines. Photo: Igor Golovniov/SOPA Images/LightRocket via Getty Images
Gilead Sciences has named Daniel O'Day, the chief of Roche's pharmaceuticals unit, as its new CEO, effective March 1.
Why it matters: Gilead is one of the largest and most profitable drug manufacturers on the planet, known for its hepatitis C and HIV medicines. O'Day will lead a company that has had falling sales of its hepatitis drugs and is investing more in new, expensive gene therapies.