Pharma Acquisition $11.9 Billion Kite Pharma Acquisition by Gilead Sciences
The acquisition will enable Gilead to become one of the leaders in cellular therapy and is expected to provide opportunities for diversification of revenues. The deal is scheduled to close in the fourth quarter of 2017.
Foster City, Santa Monica/USA — Gilead Sciences and Kite Pharma have recently announced that the companies have entered into a definitive agreement pursuant to which Gilead will acquire Kite for $180.00 per share in cash. The transaction, which values Kite at approximately $11.9 billion, was unanimously approved by both the Gilead and Kite boards of directors and is anticipated to close in the fourth quarter of 2017. The transaction will provide opportunities for diversification of revenues, and is expected to be neutral to earnings by year three and accretive thereafter.
Kite is an industry leader in the emerging field of cell therapy, which uses a patient’s own immune cells to fight cancer. Research and development as well as the commercialization operations for Kite will remain based in Santa Monica, California, with product manufacturing remaining in El Segundo, California.