Gilead expands into cell therapy with $11.9B Kite Pharma purchase

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.

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