Gilead lands approval of last-hope cancer drug after $12 billion Kite buyout

Gilead Sciences Inc. expected a quick payoff from its $12 billion acquisition of Kite Pharma Inc., and it got it Wednesday with regulatory approval of a cutting-edge blood cancer-fighting drug that will cost close to $400,000. The Food and Drug Administration green-lighted the Foster City-based company's (NASDAQ: GILD) chimeric antigen receptor T cell, or CAR-T, drug for use in patients with large B-cell lymphoma that has relapsed or is resistant after two or more lines of therapy. It is the first…
Source: bizjournals.com Health Care:Biotechnology headlines - Category: Biotechnology Authors: Source Type: news