Gilead Expands Hep C Efforts In $11B Skadden-Led Buy

Law360, New York (November 21, 2011, 2:25 PM EST) -- Biopharmaceutical company Gilead Sciences Inc. will acquire Princeton, N.J.-based Pharmasset Inc. for $11 billion in cash in a bid to accelerate development of an all-oral regimen for the treatment of the hepatitis C virus, Gilead announced Monday.

The deal, which values Pharmasset at $137 per share, or an 89 percent premium over its closing share price on Friday, is aimed at leveraging Gilead's infrastructure and expertise in antiviral drug development, manufacturing and commercialization, the company said.

“The acquisition of Pharmasset represents an important and exciting opportunity...
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