Gilead spends big

摘要

Gilead Sciences in Foster City, California, is spending US$11 billion to acquire small biotechnology firm Pharmasset, it announced on 21 November. Pharmasset, of Princeton, New Jersey, has three treatments for hepatitis C in clinical trials; Gilead also has interests in this area. At $ 137 per share, the agreed price was an 89% premium on Pharmasset's closing price at the end of the previous week.