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Gilead to buy Kite Pharma for about $11 billion in cash



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Added 08-28-17 07:02:02am EST - “Gilead Sciences on Monday agreed to buy Kite Pharma for about $11 billion in cash, Dow Jones reported, citing sources.” - Cnbc.com

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Posted By TheNewsCommenter: From Cnbc.com: “Gilead to buy Kite Pharma for about $11 billion in cash”. Below is an excerpt from the article.

Gilead Sciences has agreed to buy Kite Pharma for about $11 billion in an all-cash deal, The Wall Street Journal reported on Monday, citing people familiar with the matter.

Gilead will pay $180 per share, the report said, representing a 29 percent premium over Kite's Friday close.

Kite is one of the leading players in an emerging field called CAR-T, or chimeric antigen receptor T-cell therapy, which harnesses the body's own immune cells to recognize and attack malignant cells.

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