Taking a plunge into the cell therapy arena, Gilead Sciences (NSDQ:GILD) said today that it has inked an $11.9 billion deal to acquire Kite Pharma (NSDQ:KITE).
The deal, which was unanimously approved by both companies’ boards, is slated to close in the fourth quarter of this year. Gilead said it plans to pay $180 in cash for each Kite Pharma share – a 29% premium to the company’s price per share at close last week.
Get the full story at our sister site, Drug Delivery Business News.
The post Gilead expands into cell therapy with $11.9B Kite Pharma purchase appeared first on MassDevice.
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