Gilead looks to acquire Kite Pharma for USD 11.9 bn

M&A WATCH- US pharma company Gilead reached an agreement to acquire Kite for USD 11.9 bn, according to the Financial Times. Gilead — the maker of hepatitis C cure Sovaldi — is looking to get its hands on an experimental med which fights cancer by re-engineering the patient’s white blood cells to attack the cancer. The company is willing to pay USD 180 per share to Kite Pharma. This is Gilead’s largest takeover since it acquired Pharmasset for USD 11 bn six years ago.