Get Ready for More Acquisitions by Gilead Sciences
Investors woke up Monday morning to a pleasant surprise from Gilead Sciences (NASDAQ: GILD). The big biotech announced plans to acquire Kite Pharma (NASDAQ: KITE) for $11.9 billion. The market applauded the deal, with Gilead stock rising more than 2% in intra-day trading.
There are several reasons to like the acquisition. Adding Kite's pipeline, particularly lead candidate axicabtagene ciloleucel (axi-cel), makes Gilead an instant leader in cell therapy for treating cancer. But buying Kite Pharma should only be the beginning of acquisitions activity for Gilead. Here are three key reasons why.
Image source: Getty Images.
Source: Fool.com
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