[Ip-health] FT: Gilead in $11.9bn deal for Kite Pharma

Thiru Balasubramaniam thiru at keionline.org
Mon Aug 28 06:31:51 PDT 2017


https://www.ft.com/content/89601cd9-eec2-36ac-839f-79865347aaed

Gilead in $11.9bn deal for Kite Pharma

by: James Fontanella-Khan

Gilead Sciences has reached an $11.9bn agreement to acquire Kite Pharma,
adding a cutting edge anti-cancer technology to its portfolio.

The Californian biotech group will pay $180 per share for Kite, it
announced on Monday.

Gilead’s agreement, first reported by the Wall Street Journal, represents
nearly a 30 per cent premium on Kite’s closing price on Friday. Joh
Milligan,

Gilead chief executive, said: "The acquisition of Kit establishes Gilead as
a leader in cellular therapy and provides a foundation from which to drive
continued innovation for people with advanced cancers. We are greatly
impressed with the Kite team and what they have accomplished, and share
their belief that cell therapy will be the cornerstone of treating cancer.
Our similar cultures and histories of driving rapid innovation in order to
bring more effective and safer products to as many patients as possible
make this an excellent strategic fit."


-- 
Thiru Balasubramaniam
Geneva Representative
Knowledge Ecology International
41 22 791 6727
thiru at keionline.org



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