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Home Industry News Gilead completes CV Therapeutics acquisition

Gilead completes CV Therapeutics acquisition

20th April 2009

Gilead now fully owns CV Therapeutics after the acquisition was successfully completed.

The biopharmaceutical company offered a cash tender for all the latter’s common stock at $20 per share (13.50 pounds) and the deal was concluded on April 14th.

Subject to appraisal rights and without added interest, any outstanding shares of CV Therapeutics that are not owned by Gilead or its subsidiaries will be transformed into the right to receive $20 in cash.

Any stockholders who have not tendered their CV Therapeutic shares will receive a Notice of Merger and a Letter of Transmittal. The letter will explain what action to take in order to receive the fiscal results of the merger.

Meanwhile, Gilead began enrolling 75 patients in a clinical trial of a once-daily oral treatment for HIV ? AtriplaA.

Dr Norbert Bischofberger, chief scientific officer and executive vice-president of the company’s research and development, said the start of the studies is an “important milestone” for the drug’s development.

“If proven safe and effective, this new single-tablet regimen has the potential to provide an important alternative for [patients]”, he concluded.

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