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

I

nvestors 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.

This is a STAT Plus article and you can unlock it by subscribing to STAT Plus today. It's easy! Your first 30 days are free and if you don't enjoy your subscription you can cancel any time.
Already a subscriber? Log in here.

What is STAT Plus?

About the Author

Adam Feuerstein

Senior Writer, Biotech

Adam Feuerstein is STAT’s national biotech columnist, reporting on the intersection of biotech and Wall Street.

adam.feuerstein@statnews.com

@adamfeuerstein

Tags

biotechnology

cancer

drug development

finance