Gilead Sciences, a cancer-drug maker, agreed Monday to pay about $11.9 billion to buy Kite Pharma, a move to expand its product lineup in cancer immunotherapies.
In the cash deal, expected to close in the fourth quarter, Gilead will pay Kite shareholders $180.00 per Kite share.
Kite develops drugs in cell therapy, which uses a patient’s own immune cells to fight cancer.
Axicabtagene ciloleucel, Kite’s most advanced therapy drug currently under review by the U.S. Food and Drug Administration, is expected to be the first to market as a treatment for refractory aggressive non-Hodgkin lymphoma, the company said.
“The field of cell therapy has advanced very quickly, to the point where the science and technology have opened a clear path toward a potential cure for patients,” Gilead CEO John Milligan said in a statement. “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.”
By Roger Yu
Source: USA Today
The new company will have four complementary businesses: Perfumery & Beauty, Food & Beverage/Taste & Beyond, Health, Nutrition & Care and Animal Nutrition & Health, each with strong market positions and expertise to address emerging consumer trends. The businesses will also prioritize environmental sustainability, health and well-being.
Merck (MSD) has signed a definitive agreement for the acquisition of all outstanding shares of Imago BioSciences for a total equity price of nearly $1.35bn. A clinical-stage biopharmaceutical firm, Imago focuses on the development of new therapies to treat myeloproliferative neoplasms (MPNs) and other bone marrow ailments.
Danish pharma Novo Nordisk has announced plans to invest 5.4 billion Danish kroner to expand its existing facilities in Bagsværd. The project will establish extra R&D capacity for manufacturing APIs to supply the company’s global clinical trials for oral and injectable products. The expansion is expected to be finished in 2024, creating about 160 new jobs.