Gilead Sciences Inc. GILD -2.91% is planning to hire industry veteran Daniel O’Day to take the helm and help the drug company revive sales and recover from a disappointing deal, according to people familiar with the matter.
Mr. O’Day, whose hiring could be announced as soon as Monday, would become Gilead CEO after a long career at Switzerland’s Roche Holding AG RHHBY -0.54% , most recently running its pharmaceuticals group, the people said. In the role, Mr. O’Day oversaw successful launches of several new cancer and other drugs, and turned the business into a top industry performer.
It is the kind of experience that Gilead has been seeking since CEO John Milligan unexpectedly said in July he will leave by year’s end.
The Foster City, Calif., company is at a pivotal juncture as it looks to jump-start revenue growth and its stock price amid declining sales of its lucrative hepatitis C drugs, including Sovaldi and Harvoni. Those drugs helped Gilead’s sales to nearly triple from $11.2 billion in 2013 to $32.6 billion in 2015.