Last May, Gilead Sciences (GILD) chief executive Daniel O’Day testified before Congress that a revised version of a best-selling HIV pill was a “brand new medicine” and that the company was “absolutely not” aware it was safer than an older version during the early stages of development.
Yet a recently filed lawsuit offers details that purportedly contradict his remarks and, in the process, raises questions about the extent to which Gilead may have deliberately delayed bringing a new treatment to market in order to milk sales of an older, lucrative franchise.
O’Day’s comments were made at a high-profile hearing about an HIV treatment and prevention drug called Truvada, although his assertions came in response to questions about an updated pill called Descovy, which Gilead hopes will replace Truvada as a blockbuster seller.
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