June 19, 2007
Gilead Sciences Completes $1 Billion Stock Repurchase Program
FOSTER CITY, Calif.--(BUSINESS WIRE)--June 19, 2007--Gilead Sciences, Inc. (Nasdaq:GILD) today announced that it has completed the $1.0 billion stock repurchase program that was authorized by its Board of Directors in March 2006. Under the buyback program, Gilead acquired approximately 8.4 million shares of its common stock at an average price of $65.13 per share, representing a total of $544.9 million, in connection with a $1.3 billion convertible notes offering completed in April 2006 and subsequently used the remaining $455.1 million to acquire approximately 5.6 million shares of common stock at an average price of $81.02 per share. Upon completion of the stock repurchase program on June 18, 2007, the company had approximately 468,090,700 shares outstanding, excluding stock options and unvested restricted shares.
About Gilead Sciences
Gilead Sciences is a biopharmaceutical company that discovers, develops and commercializes innovative therapeutics in areas of unmet medical need. The company's mission is to advance the care of patients suffering from life-threatening diseases worldwide. Headquartered in Foster City, California, Gilead has operations in North America, Europe and Australia. For more information on Gilead Sciences, please visit the company's website at www.gilead.com or call Gilead Public Affairs at 1-800-GILEAD-5 or 1-650-574-3000.
For more information on Gilead, please call the Gilead Public
Affairs Department at 1-800-GILEAD-5 (1-800-445-3235) or visit
CONTACT: Gilead Sciences, Inc.
Susan Hubbard, 650-522-5715 Investors
Amy Flood, 650-522-5643 (Media)
SOURCE: Gilead Sciences, Inc.