Gilead Sciences Inc agreed to buy Kite Pharma Inc in a $11.9 billion deal on Monday, as it looks to fuel growth with an emerging class of cancer immunotherapies that are expected to generate billions. Gilead will pay $180 per share in an all-cash deal, representing a 29.4 percent premium over Kite's Friday close. Kite's shares were trading up at $178.15 before the bell. Santa Monica, California-based Kite is developing a CAR-T, or chimeric antigen receptor T-cell therapy, which harnesses the body's own immune cells to recognize and attack ...
Gilead to buy Kite Pharma for promising cancer therapies in $12 bn deal
Gilead's growth has been fueled by its pricey but revolutionary hepatitis C drugs
Reuters Last Updated at August 28, 2017 18:03 IST