Gilead Slaps Mega-Price on Its Newly Approved CAR-T
Gilead Sciences (NASDAQ: GILD) recently acquired clinical-stage CAR-T drugmaker Kite Pharma, for $11.9 billion and on Wednesday, the FDA helped validate the company's purchase price by approving Yescarta more than one month ahead of schedule.
The approval makes Yescarta only the second drug from an entirely new class of cancer killers to get the regulatory nod and Yescarta's $373,000 price tag suggests it could meaningfully offset Gilead Sciences' declining hepatitis C drug revenue next year.
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Source: Fool.com