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Gilead promotes Andrew Dickinson to CFO, increased M&A expected

Dickinson helmed company’s acquisition of Kite and partnership with Galapagos

Gilead

Andrew Dickinson has been selected as Gilead's new chief financial officer – as the pharma giant looks to expand outside of its core areas into new treatments. 

Dickinson currently works as Gilead’s executive vice president, corporate development and strategy, having joined the company in 2016. Prior to Gilead, Dickinson spent almost a decade at Lazard Frères & Co. where he served as global co-head of healthcare investment banking. Beofre this, he was general counsel and vice president of corporate development at Myogen.

During his time at Gilead, Dickinson oversaw the company’s acquisition of Kite Pharma, and also of the research collaboration with the biotech Galapagos announced earlier this year. Gilead acquired the rights to Kite’s CAR-T therapy Yescarta (axicabtagene ciloleucel) for lymphoma in that deal – however, the drug continues to fall short of analyst expectations, bringing in $264m last year, while Gilead paid almost $12bn for the company in 2017.

The Galapagos partnership has however promised to reinvigorate Gilead’s pipeline, with the 10-year R&D alliance potentially adding up to six compounds in the clinic and 20 preclinical programmes to the company’s portfolio.

One of these potential blockbusters is JAK1 inhibitor filgotinib, which recently reported new, long-term phase 3 clinical data in rheumatoid arthritis. The drug is already under review in Europe and Japan, with plans to file in the US soon.

With the transformation of Gilead’s pipeline CEO Daniel O’Day’s top priority, Dickinson will be expected to be taking the helm of many future deals and collaborations.

“Andy is an exceptional, highly strategic leader. In addition to his impressive business and financial acumen and broad experience, Andy possesses strong creativity and vision. This has been evident in the way Gilead has approached acquisitions and partnerships under Andy’s leadership,” commented O’Day (pictured below).

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Daniel O'Day

“Over the past months, one of my key priorities has been to ensure we have an outstanding team of leaders to shape Gilead’s long-term success. I am pleased that with Andy’s appointment as CFO, we now have our full leadership team in place.”

Dickinson’s appointment rounds out the complete overhaul of the top leadership team at Gilead, which was set in motion by O’Day when he joined the company earlier this year. The new CEO is focused on steering Gilead away from relying on its HIV franchise, as it looks to expand into immuno-oncology and other lucrative therapy areas.

This appointment comes on the heels of the announcement of another top position being filled – that being ex-Genentech exec Merdad Parsey’s new role as Gilead’s chief medical officer.

Dickinson will succeed current CFO Robin Washington, who will remain at Gilead as an advisor through the completion of the company’s reporting of 2019 financial results early next year. Dickinson will assume the role as of 1 November, and will report directly to O’Day.

Article by
Lucy Parsons

17th October 2019

From: Marketing

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