John C. Martin (businessman)
| John C. Martin | |
|---|---|
| Born | Easton, Pennsylvania[1] |
| Nationality | American |
| Occupation | Entrepreneur |
| Known for | Gilead Sciences (CEO) |
John C. Martin is the former CEO of American biotechnology company Gilead Sciences.[2] He joined Gilead Sciences in 1990 as Vice President for Research and Development.[3][1]
Education
Martin earned an MBA in marketing from Golden Gate University and a PhD in organic chemistry from the University of Chicago.[4] He serves on the Board of Trustees of both universities.[4]
Career
Bristol-Myers Squibb
Martin was director of antiviral chemistry at Bristol-Myers Squibb from 1984 to 1990.[1]
Gilead Sciences Inc
Martin began working Gilead Sciences in 1990 as research chief.[1] He has been CEO since 1996 and Chairman since 2008.[4] At Gilead Martin led the development of the most widely prescribed HIV pill. In 2014 he led the development of Sovaldi — "a treatment for the liver virus hepatitis C that can cure 90% of patients and generated $12 billion in revenue in its first year on the market."[1]
Martin is credited with the rise of Sovaldi (sofosbuvir) from "zero-to-blockbuster in a couple of months" with profits topping $10 billion for 2014.[5] In April 2014 U.S. House Democrats — Henry Waxman, Frank Pallone Jr., and Diana DeGette — wrote Martin questioning the $84,000 price for hepatitis C treatment Sovaldi. They specifically asked Martin to "explain how the drug was priced, what discounts are being made available to low-income patients and government health programs, and the potential impact to public health by insurers blocking or delaying access to the medicine because of its cost."[6] Sofosbuvir is cited as an example of how specialty drugs present both benefits and challenges.[7][6][8]
"Sofosbuvir also is an excellent example of both the benefit and the challenge of specialty medications. On one hand, this agent offers up to a 95% response rate as part of an interferon-free treatment regimen for hepatitis C.6 Generally speaking, it is more effective and better tolerated than alternative treatments.6 Unfortunately, the current per pill cost—$1,000—results in an $84,000 treatment course, creating barriers to therapy for many.6 Patients, providers, and payors alike have expressed outrage, and the debate has even drawn the attention of the US Congress.7 Despite these concerns, sofosbuvir rapidly has become a top seller in the United States ...."— [7]
Awards
In 2003, Martin was an Award Winner and National Finalist for the EY Entrepreneur of the Year Award.[9]
In 2015 Martin was named by investment firm Morningstar as best CEO. During his tenure as CEO since 1996, Gilead shares rose 100-fold, and the stock posted a 157% gain just from 2013 to 2015.[5]
References
- 1 2 3 4 5 Herper, Matthew (6 May 2015). "Gilead's John C. Martin: One Breakthrough Drug After Another". Forbes. Retrieved 27 October 2015.
- ↑ "#6 John C Martin - Forbes.com". forbes.com. Retrieved 26 November 2012.
- ↑ "John Martin: Executive Profile & Biography - Businessweek". investing.businessweek.com. Retrieved 26 November 2012.
- 1 2 3 "John C. Martin, PhD". Gilead. 2013. Retrieved 27 October 2015.
- 1 2 Staton, Tracy (22 January 2015). "Gilead's John Martin scores 'best CEO' trophy for huge stock gains". Fierce Pharma. Retrieved 27 October 2015.
- 1 2 Armstrong, Drew (21 March 2014). "Gilead's $84,000 Treatment Questioned by U.S. Lawmakers". Bloomberg. Retrieved 27 October 2015.
- 1 2 Lucio, Steven (February 2015). "The Increasing Impact of High-Cost Specialty Therapies". Pharmacy Purchasing & Products Magazine. Retrieved 4 December 2015.
- ↑ Brennan, T.; Shrank W. (2014). "New expensive treatments for hepatitis C infection". JAMA. pp. 593–594.
- ↑ "Ernst & Young Seeks Northern California Predominant Entrepreneurs", PRNewswire, San Francisco, 23 February 2004, retrieved 27 October 2015