Gilead Sciences Agrees to Exercise Its Option to Acquire Corus Pharma for $365 Million

21-Jul-2006

Gilead Sciences, Inc. has agreed to exercise its option to purchase Corus Pharma for $365 million. Gilead expects formal exercise of this option to be enacted within 10 business days, and anticipates that the deal would close in the third quarter of 2006, subject to clearance under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 and satisfaction of other closing conditions. Concurrently, Gilead and Novartis Vaccine and diagnostics, Inc. have entered into an agreement whereby Novartis has agreed to dismiss its ongoing litigation with Corus for an undisclosed payment.

In April 2006, Gilead invested $25 million in Corus, becoming the second largest shareholder in the company and gaining an exclusive option to purchase the remaining shares of the company.

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Diagnostics is at the heart of modern medicine and forms a crucial interface between research and patient care in the biotech and pharmaceutical industries. It not only enables early detection and monitoring of disease, but also plays a central role in individualized medicine by enabling targeted therapies based on an individual's genetic and molecular signature.

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Topic world Diagnostics

Topic world Diagnostics

Diagnostics is at the heart of modern medicine and forms a crucial interface between research and patient care in the biotech and pharmaceutical industries. It not only enables early detection and monitoring of disease, but also plays a central role in individualized medicine by enabling targeted therapies based on an individual's genetic and molecular signature.

10+ products
4 whitepaper
10+ brochures