The number of options and shares are in part attributable to Martin’s long tenure at the company, most of it as CEO, said Cara Miller, a spokeswoman for Gilead, in an e-mail. The cost of a 12-week regimen of Sovaldi along with interferon and another drug “is consistent with and in many cases actually less” than older treatments that require longer duration of therapy, she said.
Gilead closed down 1.6 percent to $81.45 in New York.
The billionaire, who has a doctorate in organic chemistry from the University of Chicago and an MBA from Golden Gate University, has spent most of his career working on antiviral drugs, and has been an active dealmaker, willing to pay a premium for companies with drugs that show promise.
After one of its hepatitis C compounds had setbacks in early testing, Gilead acquired Sovaldi by buying Pharmasset Inc. for almost $11 billion in 2012, at a price that represented an 89 percent premium to Pharmasset’s price before the deal was announced in November 2011. Gilead stock has more than quadrupled since then.I've long held that chemists don't necessarily make better CEOs than MBAs, with Thomas D'Ambra of AMRI and John Lechleiter of Lilly as the prime examples. Dr. Martin just might be the exception that proves the rule?
Via Google, it appears that Dr. Martin was a steroid chemist in graduate school -- who would have been his advisor? Here's a short biography about his MBA from Golden Gate University and his early years in San Francisco.