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Web Date: August 28, 2017

Gilead to acquire Kite Pharma for $11.9 billion

Deal moves infectious disease leader into cell therapy for cancer
Department: Business
Keywords: pharmaceuticals, acquisition

In a bid to diversify its portfolio and boost growth, Gilead Sciences has agreed to acquire Kite Pharma, a Santa Monica, Calif.-based immunotherapy specialist focused on cancer, for $11.9 billion. Gilead, which focuses on treatments for infectious disease, is following up its $11 billion acquisition of Pharmasset in 2011, a deal that landed the Foster City, Calif.-based firm the hepatitis C drugs Sovaldi and Harvoni.

Kite is a leader in the emerging field of cell . . .

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