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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 

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 ...

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First Published: Mon, August 28 2017. 18:01 IST
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