FOSTER CITY (United States), 21 (EUROPA PRESS)
Gilead Sciences and Pharmasset pharmaceutical companies have reached a definitive agreement whereby Gilead will acquire Pharmasset by 11 billion dollars (8.164 million euros) in cash, amounting to 137 dollars per share, as reported by the company in a statement.
Operation, scheduled to conclude in the first quarter of 2012, has received the unanimous support of the Board of Directors of Pharmasset, a pharmaceutical company specializing in treatments for hepatitis C (HCV).
The price paid by Gilead is an 89% more in comparison with $69,02 in which closed last Friday Pharmasset actions, as well as a premium of 59% compared to its historic maximum.
Gilead intends to finance this operation with cash that is available, with bank debt and unsecured senior bond and provides for the operation, once completed, affects the benefits until 2014 and raise them in 2015 and years later.
“The acquisition of Pharmasset represents an opportunity important and attractive to accelerate the efforts of Gilead change the paradigm of treatment for patients infected with HCV through the development of regimes by mouth for the treatment of the disease,” said the President and CEO of Gilead, John C. Martin.
Also, he stressed that this operation will serve to boost your business’s long-term growth and showed their confidence in that can work closely with the team of Pharmasset to move towards a more comprehensive hepatitis C. clinical program
For his part, President and Chief delegate, Pharmasset, Schaefer Price, was satisfied to Gilead, who shares his commitment to provide new oral therapies for high efficiency HCV patients. Furthermore, stressed that the company can benefit from “the experience and the leadership of Gilead in the development and commercialization of antiviral drugs”.
