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Gilead agrees to buy Kite Pharma, leaping into CAR-T cancer therapy

  • Adam Feuerstein

By Adam Feuerstein Aug. 28, 2017

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Kite Pharma
The CAR-T production line at Kite's factory in El Segundo, Calif. Kite Pharma

Investors wanted Gilead Sciences to shake things up with a big, transformative acquisition and that’s what the company did Monday, agreeing to buy Kite Pharma and its CAR-T cancer-killing technology for $11.9 billion.

Gilead is paying $180 per share, all in cash, for Kite, or a 29 percent premium over its closing stock price Friday.

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About the Author Reprints

Adam Feuerstein

Adam Feuerstein

Senior Writer, Biotech

Adam is STAT’s national biotech columnist, reporting on the intersection of biotech and Wall Street. He's also a co-host of "The Readout LOUD" podcast.

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