Gilead to purchase biologics manufacturing facility from Genentech

Gilead Sciences has agreed a deal to acquire a clinical biologics manufacturing facility and related process development assets from fellow healthcare firm Genentech.

The 70,000 sq ft facility, which is located in Oceanside, California, is designed for the creation of biologic compounds for toxicological, phase I and phase II clinical studies, with Gilead set to utilise the site to manufacture the oncology compound GS 6624.

Both companies are aiming to complete the transaction in the third quarter of 2011, with the deal also set to encompass the potential transfer of a number of Genentech staff at the site to Gilead.

Dr Norbert Bischofberger, Gilead's executive vice-president for research and development and chief scientific officer, said the purchase will enhance the company's ability to develop new medicines to address unmet clinical needs.

"This will enable us to accelerate internal biologics research and development programmes and take advantage of external opportunities in the future," he explained.

According to the firm's most fiscal report last month, Gilead saw a record-breaking performance in the second quarter of 2011, with revenue advancing by 11 percent year on year.