There’s nothing like a $12 billion acquisition to shake the sand off the backs of biotech investors and analysts spending their last week lounging the beaches of the Hamptons and Nantucket. On Monday, Gilead Sciences (GILD) announced a blockbuster acquisition of Kite Pharma (KITE), and all of a sudden, summer ended before Labor Day. Back to work, people. Here are four questions to ponder on the long drive (or ferry ride) home.
Is Gilead smart to buy Kite?
Yes, if you believe (as Gilead and Kite both do) that cellular therapy for cancer is a transformational technology that is only just getting started.