Gilead and Kite acquiring Cell Design Labs for up to $567M

(GILD) and its cell therapy subsidiary Kite announced that they have entered into a definitive agreement under which they have agreed to acquire Cell Design Labs, Inc., gaining new technology platforms that will enhance research and development efforts in cellular therapy. In August, the company announced plans to acquire Santa Monica's Kite Pharma for $12 billion - the largest acquisition since Gilead's 2011 purchase of Pharmasset, which brought two leading hepatitis C drugs into its drug portfolio. Emeryville, Calif. -based Cell Design Labs develops biotech to re-engineer cells for use in cancer treatments. Cell Design Labs is developing therapies for prostate cancer and multiple myeloma, a cancer of the blood plasma cells.

The deal calls for an initial up-front payment of $175M, along with additional payments of up to $322M upon the occurrence of events including development and approval milestones.

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Jurors were shown video footage of both siblings handling heavy Russian-made machine guns on vehicles in Libya. Abdallah admitted to having previously fought for an Islamist group against the Gaddafi regime in Libya.

Analysts Sights: Opko Health Inc (OPK)
Public Employees Retirement Association of Colorado raised its holdings in shares of Opko Health by 0.3% during the 2nd quarter. At the close of regular trading, its last week's stock price volatility was 4.58% which for the month reaches 4.22%.

In August, Novartis AG's Kymriah became the first CAR-T cell therapy to get USA approval, signaling a new era in the treatment of cancer. Shares of Gilead rose 0.3% to $72.92 after hours.

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