Gilead to purchase Pharmasset at $11 billion to drive hepatitis C pipeline
Gilead Sciences has announced the completion of a final agreement to buy Pharmasset for approximately $11 billion, to expand its pipeline of hepatitis C virus treatments. The deal represents an 89-percent premium to Pharmasset's closing share price on November 18. According to Gilead the deal, due to close in the first quarter of 2012, has been unanimously agreed by Pharmasset's board. Gilead expects the purchase to lower earnings to 2014 but assist gains in 2015 and beyond. Find Gilead company analysis at Reportbuyer.com