Sector News

Gilead Sciences to buy Kite Pharma for $11.9B

August 29, 2017
Life sciences

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

Related News

September 22, 2020

GSK’s Zejula and AZ’s Lynparza leap toward broader EU approval

Life sciences

GlaxoSmithKline’s Zejula and AstraZeneca’s Lynparza have both moved towards EU approval in new indications after receiving positive opinions from the European Medicines Agency’s (EMA) Committee for Medicinal Products for Human […]

September 22, 2020

Roche acquires Irish biotech firm Inflazome

Life sciences

Swiss pharma company Roche is set to acquire Irish biotech firm Inflazome for an upfront payment of $449m (€380m). In addition to the upfront payment, Inflazome is also eligible to […]

September 18, 2020

Eli Lilly, Amgen join forces to scale production of COVID-19 antibody cocktails

Life sciences

Months of fervid research have whittled away most potential options to treat patients with COVID-19, a group of antibody cocktails still hold promise. Eli Lilly believes so strongly in its contender that it’s […]