While many biotech and pharma companies are planning layoffs and restructuring to reduce costs, Gilead Sciences plans to double its campus at its Foster City headquarters--swelling from 629,154 square feet to 1.2 million to make way for a big expansion of its workforce. The developer says it needs to accommodate an additional 1,900 jobs over the next ten years. The company will also double its workforce in Seattle and Durham over the next ten years, Gilead President John Milligan told the San Francisco Business Times.
Gilead's expansion plans don't end there. The increase in staff and space is part of an overall effort to boost the funding and resources allocated for R&D. The company currently has over 20 compounds in different stages of development, said Milligan. The anti-viral drug maker, which claimed a $999 million profit in the first half of this year, is also building a portfolio of pulmonary and cardiovascular drugs, according to the SFBT.
- read the San Francisco Business Times article