Gilead CEO Daniel O’Day said the company’s build-out in oncology and inflammation has reached “critical mass,” following years of acquisitions and pipeline investment meant to diversify it beyond virology and HIV.
The latest deal spree included acquisitions of CAR-T developer Arcellx, autoimmune-focused Ouro Medicines and antibody-drug-conjugate specialist Tubulis. O’Day said future M&A is likely to be selective and complementary rather than foundational.
In oncology, Gilead is adding capabilities in cell therapy and ADCs; Tubulis also brings an early-stage ovarian-cancer candidate and a Munich-based ADC research operation.
In inflammation, Gilead’s foundation includes Livdelzi for primary biliary cholangitis, obtained through its 2024 CymaBay acquisition, alongside newer autoimmune programs from Ouro.
O’Day emphasized that the shift toward cancer and inflammation does not mean Gilead will deprioritize virology. The company has also opened a Foster City research center combining oncology, inflammation and data-science teams.
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