Gilead Sciences has ended the long-running suspense about what it would do with some of the billions in cash it has amassed from selling effective, but expensive hepatitis C drugs: Buy a groundbreaking cancer therapy.
Gilead, which has come under congressional investigation for the $84,000 price tag it put on its first hepatitis C drug, announced Monday it would shell out $11.9 billion to acquire California-based Kite Pharma. The acquisition could stir a whole new debate on drug prices.
Read more here.
