Hints and tips:
...Gilead’s $11.2bn purchase of Pharmasset, a hepatitis C biotech, in 2012, brought with it one of the most lucrative drug franchises....
...Gilead partisans note that it had bought Pharmasset in 2012 for a similar sum to Kite....
...For Gilead, the takeover of Kite culminates a long search for a blockbuster deal, the largest since it acquired Pharmasset for $11bn six years ago....
...John Milligan, chief executive of Gilead, says there are “some similarities” between the acquisition of Kite and the company’s last big deal: the $11.2bn takeover of Pharmasset in 2012, which brought with...
...Gilead’s $11bn purchase of Pharmasset in 2011 was risky, but turned out to be one of the best deals ever....
...In 2011, when Gilead announced that it would pay $11bn for Pharmasset and its unproven Hepatitis C drug Sofosbuvir, there were gripes , and the shares fell 10 per cent....
...“Philosophically, we prefer to wait for more certainty and pay more money, which is what we did with Pharmasset, rather than getting something cheap with uncertainty.”...
...The company is also facing a challenge in HIV, the mainstay of its business before it acquired Pharmasset, and the rights to its hepatitis C drugs, for $11bn in 2012....
...The company’s $11bn purchase in 2012 of Pharmasset, the maker of a cure for hepatitis C, was one of the highest-return deals in the drug industry’s history....
...In 2011, drugs group Gilead spent $11bn to buy Pharmasset, which was developing treatments for hepatitis C, but could only promise investors that the deal would be “accretive in 2015 and beyond”....
...Companies have been encouraged to take calculated risks on development-stage drugs by successes such as Gilead Science’s $11bn acquisition of Pharmasset in 2011 — before the approval of the Sovaldi hepatitis...
...Gilead’s $11bn acquisition of Pharmasset, in 2011, brought along an HCV treatment, sofosbuvir....
...A still stronger signal of the scientific and commercial potential of new treatments came when Gilead surprised the markets by paying $11.2bn for Pharmasset in 2012....
...The medicine was acquired in 2011 through an $11bn acquisition of Pharmasset, founded by Sovaldi’s inventor, Egyptian-born Raymond Schinazi....
...Gilead acquired the hepatitis C drug when it bought Pharmasset for $11bn in 2011, which helped spark a revival in the fortunes of the biotechnology sector....
...Valuations for the smaller biotechs cannot be justified by anyone other than a gambling addict hoping they can spot the next Pharmasset....
...In 1998, Schinazi set up two separate companies as vehicles for his hepatitis C research: Idenix and Pharmasset....
...Proving that mergers and acquisitions can offer real value, the shares of Gilead Sciences soared after its purchase of Pharmasset last year to acquire the HIV drug sofosbuvir appeared to pay off handsomely...
...The Pharmasset acquisition, despite its mind-boggling price tag, is not simply a desperate or overpriced deal. It has considerable advantages....
...Morgan Stanley advised Pharmasset....
...Gilead Sciences, the US biotechnology company which pioneered treatments for HIV, last November said it would buy fellow biotech Pharmasset for about $11bn, a sizeable bet on the fast-developing market for...
...Pharmasset, which has a hepatitis C product in clinical trials, has just been bought at a huge premium by Gilead. Others are piling into this so far under-penetrated market, too....
..., even though Pharmasset has no clinically-approved products as yet, and made a net loss of $91m in the year to September 30....
...Last November, Gilead agreed to pay $11bn in a cash deal to acquire Pharmasset, which is developing oral hepatitis C drugs, as it looks to diversify away from HIV drugs....
...Pharmasset shares surged 84.6 per cent to $134.14....
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