Gilead CEO John Milligan Stepping Down From Biotech Giant
- Drugmaker facing shrinking revenue from hepatitis C franchise
- Company beats estimates on revenue, earnings in second quarter
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Gilead Sciences Inc. Chief Executive Officer John F. Milligan plans to step down, departing the biotechnology giant less than a year after striking a splashy deal for the maker of a pricey but promising cancer drug.
Milligan, 57, has led Gilead as it struggles to make up for continuously shrinking revenue from its blockbuster hepatitis C franchise. He will remain with the company through the end of 2018. The company also said former CEO John Martin would leave the board when a new chief executive is hired.