Gilead Sciences agrees takeover of Kite Pharma

Gilead Sciences has announced the acquisition of the California-based biopharmaceutical company Kite Pharma for $11.9 billion (9.21 billion pounds).

Kite is an industry leader in the emerging field of cell therapy, which focuses on using a patient's own immune cells to fight cancer. A number of engineered cell therapies have been developed by the company, including axicabtagene ciloleucel, which is currently under priority review by the US Food and Drug Administration.

This therapy is expected to be the first available treatment for refractory aggressive non-Hodgkin lymphoma, with the European Medicines Agency also reviewing the drug ahead of an expected approval in 2018.

Kite has additional candidates in clinical trials for haematologic cancers and solid tumours, all of which will be added to Gilead's pipeline after the takeover is complete.

Dr John Milligan, Gilead's president and chief executive officer, said: "The acquisition of Kite establishes Gilead as a leader in cellular therapy and provides a foundation from which to drive continued innovation for people with advanced cancers."

It is expected that the deal will be finalised during the fourth quarter of 2017.

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