Gilead to purchase Kite Pharma

Gilead Sciences has announced an $11.9 billion buyout of Kite Pharma which includes the biotech's promising CAR-T treatment Axi-Cel.

In the last year, Kite and Axi-Cell have moved into a leadership position with only Novartis ahead on the push to market.

As CAR-T technology nears the market, the cost of the treatment has yet to be determined. Novartis will likely have to set numbers first as its CAR-T medication CTL019, which received FDA backing in June, is positioned to reach the market ahead of Kite.

The Kite and Novartis medications are also up for two different rare disease indications, with Kite's FDA action date being November 29th.

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