A

fter months of urging from Wall Street, Gilead Sciences (GILD) finally made a big acquisition — paying nearly $12 billion in cash to buy Kite Pharmaceuticals (KITE), a leader in developing so-called CAR-T therapies that leverage the body’s own immune system to fight cancer.

For Gilead, the move is a way to quickly diversify beyond its infectious-disease franchise. Although its HIV portfolio remains dominant, declining sales of its hepatitis C drugs have hurt its stock price. Moreover, this may finally help Gilead dive into the lucrative cancer market, where the company has suffered several notable setbacks.

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.

Leave a Comment

Please enter your name.
Please enter a comment.

  • Ah, and so in another drive for innovation, Gilead re-defines ‘Kite’-ing a check into something ostensibly positive. Time will tell if it ‘bounce$’ or not.