Vragen rondje
Brian Abrahams
Thanks so much for taking my question. As you look across your mid stage portfolio and to new corporate strategy, I was wondering, if you could elaborate a little bit more on the areas of most interest to build out or to wind down. Where does Gilead's team stand today to most optimally take advantage of external opportunities? And how do you guys balance potential versus risk as you look at investing in assets both internally and externally? Thanks.
Daniel O'Day
Great. Thanks a lot, Brian. I'll start, and then I'll ask Merdad to comment on the portfolio because one of the big efforts that we have underway is with Merdad coming to the organization, his breadth of experience in building world-class portfolios. That's exactly what he's involved in right now, and really leveraging the strengths accordingly, across the portfolio. So, I'd say a couple of things, Brian.
I think, as you know, we've kind of elevated the full disclosure and openness on our portfolio. We started that at JP Morgan. You can expect us to continue to be very transparent about the portfolio, the decisions we take and we make. But, I think, just the very fact that we have 40 clinical stage programs, 14 of which are in registrational trials is something that I think may be underappreciated as we -- from the outside.
Now, you asked about, what are the things that are most interesting? I'm going to let Merdad give that as well. But I remind you that our strength in viral diseases will continue to be invested in and that's the discussion around capsid, and really, truly providing kind of next generation therapies that we think patients and customers, -- well, we know patients and customers are asking for out there.
Having said that, I think, the extension of our inflammatory disease portfolio with the Galapagos transaction is something that excites me. I think, there's lots of potential shots on goals there. There's ways to think about between Gilead and Galapagos, building combination approaches in the future. And I think, we've really got a strength in inflammatory diseases that is building. Fibrotic diseases is something that we have a depth of expertise in. And we understand the challenges associated with that disease state. And so, as Merdad builds the portfolio, I think he'll come in, we have to make sure that we're putting the right level of investment in there that makes sense for the big unmet medical need, but also the risk associated with some of the natures of those diseases.
And then, finally, there's been significant effort, long before Merdad or I joined on oncology. Of course, the Kite acquisition provides was the immediate step up and knowledge and knowhow and a breadth of portfolio there. But the non-Merdad portfolio is something that's really built up over the past couple of years, both internally and through our collaborative. We know it's early and we know that we're going to have to continue to pursue those programs and build on it.