Gilead Sciences Announces Positive Phase 2 Studies Data and AutoNavi Holdings to be acquired by Alibaba Group Holding Limited for $1.5B
Gilead Sciences Inc. (NASDAQ: GILD) announced data from two Phase 2 studies and a compassionate access study in which a regimen containing once-daily Sovaldi® (sofosbuvir) 400 mg was administered for the treatment of chronic hepatitis C virus (HCV) infection in patients with advanced liver disease. “The patients included in these analyses are historically among the most difficult to cure, and many have had no appropriate treatment options until now,” said Norbert Bischofberger, PhD, Executive Vice President of Research and Development and Chief Scientific Officer, Gilead Sciences. “These data demonstrate that Sovaldi-based oral therapy can improve outcomes, has a favorable safety profile and is well tolerated among hepatitis C patients with severe liver disease.”
Gilead Sciences, Inc., a biopharmaceutical company, discovers, develops, and commercializes medicines for the treatment of life threatening diseases in North America, South America, Europe, and the Asia-Pacific. The companys products include Stribild, Complera/Eviplera, Atripla, Truvada, Viread, Emtriva, Tybost, and Vitekta for the treatment of human immunodeficiency virus (HIV) infection in adults; and Sovaldi, Viread, and Hepsera products for the treatment of liver disease. It also offers Letairis, an endothelin receptor antagonist for the treatment of pulmonary arterial hypertension; Ranexa, a tablet used for the treatment of chronic angina; Lexiscan/Rapiscan injection for use as a pharmacologic stress agent in radionuclide myocardial perfusion imaging; Cayston, an inhaled antibiotic for the treatment of respiratory systems in cystic fibrosis patients; and Tamiflu, an oral antiviral capsule for the treatment and prevention of influenza A and B.
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AutoNavi Holdings Limited (NASDAQ: AMAP) announced that it has agreed to be acquired by Alibaba Group Holding Limited. This is China's biggest e-commerce company. The deal is valued at about $1.5 billion where Alibaba is paying $5.25 in cash per AutoNavi share, or $21 in cash per American depositary share, or ADS. The deal is expected to close in the third quarter. Deutsche Bank acted as financial adviser to Alibaba.
AutoNavi Holdings Limited, through its subsidiaries, provides digital map content, and navigation and location-based solutions in China. It offers automotive navigation solutions, including digital map data for in-dash navigation systems; and aftermarket navigation solutions for dealer option navigation systems and portable navigation devices. The company also offers mobile and Internet location-based solutions, including pre-installed and downloadable offline navigation applications; solutions for mobile operators; AMAP, a pre-installed and downloadable online map application; API solutions, and Internet and mobile map services; mobile Internet solutions for public sectors and enterprises; and vehicle connectivity solutions. In addition, it offers public sector and enterprises applications, which include aerial photogrammetry, 3-D digital city models, and map data licensing solutions.
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