Monday, June 15, 2015

Some fear biotech reaching unsustainable heights - the “Gilead effect”

Some fear biotech reaching unsustainable heights

By Robert Weisman GLOBE STAFF JUNE 15, 2015

Every biotech in the Bay State and beyond is chasing what consulting firm Ernst & Young calls the “Gilead effect,” a reference to the Foster City, Calif., company whose sales more than doubled to $24.9 billion last year on the strength of Sovaldi, which can cure hepatitis C.

“Gilead was a bellwether for the industry,” said Glen Giovannetti, the Boston-based global life sciences leader at Ernst. “It produced a product that cured most people, which is phenomenal. It was the most significant launch in the history of the industry. That was a signal to the market, and investors poured in.”

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