Gilead Buys Pharmasset

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In an effort to become the leader in developing the next wave of hepatitis C drugs, Gilead Sciences announced today that they would pay $11 billion in cash to acquire Princeton, NJ based drug developer, Pharmasset.

The deal marks the biggest intended acquisition in Gilead’s history.

Additionally, this purchase also follows in line with the recent trend of major pharmaceutical companies who have gone on a spending spree of sorts in an effort to replenish their respective product pipelines now that the many of their drug patents are set to expire over the next few years.

Read the full New York Times article here.

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