Healthcare Industry News: Aztreonam
News Release - August 11, 2006
Gilead Sciences Completes Acquisition of Corus PharmaFOSTER CITY, Calif.--(HSMN NewsFeed)--Aug. 11, 2006--Gilead Sciences, Inc. (Nasdaq:GILD ) announced today that it has completed its acquisition of Corus Pharma. Gilead also announced that the company has received regulatory clearance by the United States Federal Trade Commission under the Hart-Scott-Rodino Antitrust Improvements Act of 1976. Gilead will provide updated full year 2006 expense guidance reflecting the impact of the Corus acquisition on the company's third quarter 2006 earnings conference call on October 18, 2006.
Gilead expects to retain Corus' Seattle-based operations, establishing a center of expertise in respiratory therapeutics for the company.
A. Bruce Montgomery, MD will join Gilead's Executive Committee as Senior Vice President and Head of Respiratory Therapeutics reporting to John Milligan, PhD, Executive Vice President and Chief Financial Officer. He will be based in Seattle, Washington. Dr. Montgomery founded Corus Pharma in January 2001 and served as the company's CEO and Director for five years. Prior to founding Corus, Dr. Montgomery served as Executive Vice President of Research and Development at PathoGenesis Corporation where he managed the development of inhaled tobramycin for the treatment of cystic fibrosis. Prior to PathoGenesis, Dr. Montgomery helped Genentech Inc. develop Pulmozyme, another treatment for cystic fibrosis. Dr. Montgomery serves on the Board of Directors of the Pacific Science Center and is a Trustee of the Washington State Life Sciences Discovery Fund. He received his Bachelor of Science in Chemistry and Doctorate of Medicine from the University of Washington, Seattle and is a board certified internist and pulmonologist.
About Gilead Sciences
Gilead Sciences is a biopharmaceutical company that discovers, develops and commercializes innovative therapeutics in areas of unmet medical need. The company's mission is to advance the care of patients suffering from life-threatening diseases worldwide. Headquartered in Foster City, California, Gilead has operations in North America, Europe and Australia.
This press release includes forward-looking statements, within the meaning of the Private Securities Litigation Reform Act of 1995, that are subject to risks, uncertainties and other factors including the risk that the products and employees of Gilead and Corus will not be integrated successfully and that Aztreonam lysine for inhalation and other products developed by the Corus team will not receive regulatory approvals or market acceptance. These risks, uncertainties and other factors could cause actual results to differ materially from those referred to in the forward-looking statements. The reader is cautioned not to rely on these forward-looking statements. These and other risks are described in detail in Gilead's Annual Report on Form 10-K for the year ended December 31, 2005, Quarterly Reports on Form 10-Q for the first and second quarters of 2006 and other reports filed with the U.S. Securities and Exchange Commission. All forward-looking statements are based on information currently available to Gilead and Gilead assumes no obligation to update any such forward-looking statements.
For more information on Gilead Sciences, please visit www.gilead.com or call the Gilead Public Affairs Department at 1-800-GILEAD-5 (1-800-445-3235).
Source: Gilead Sciences
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