Jan 6 Gilead Sciences Inc said on
Monday that its head of commercial operations for the past
decade, Kevin Young, who oversaw tremendous sales growth at the
U.S. biotechnology company, will retire next month.
Young, who plans to step down on Feb. 4, has held the top
commercial post for the world's leading maker of HIV/AIDS
medicines since 2004. During his tenure Gilead's annual sales
grew from $1.24 billion in 2004 to about $11 billion in 2013.
"Over the past nine years, he has greatly expanded and
strengthened our commercial organization, preparing the company
to introduce products in new therapeutic areas," Gilead Chief
Executive John Martin said in a statement.
The company said it was not ready to announce any succession
plans but said Young will continue to work with Gilead as a
senior advisor after his retirement.
Young, 56, leaves the top commercial post just as Gilead is
launching what is widely expected to be its biggest and most
important new therapy in years - an all-oral regimen for
treating hepatitis C that has garnered analyst forecasts for
eventual annual sales of $3 billion to $16 billion.
During his tenure, Young oversaw the launch of eight new
therapies, including Atripla, the first single tablet regimen
for the treatment of HIV, which is the top seller for treating
the virus that causes AIDS in the United States and Europe,
Before joining Gilead, Young held posts with U.S. biotech
Amgen Inc and British drugmaker AstraZeneca.