Gilead's $375 million Calistoga buy signals shift into oncology and inflammation
This article was originally published in Scrip
Gilead Sciences is broadening its cancer and inflammatory pipeline through a $375 million acquisition of Calistoga Pharmaceuticals, with the potential for that deal to be expanded by an additional $225 million if certain milestones are met.
You may also be interested in...
Five funds raised more than $1bn to back biotech firms; Arcus leads recent VC rounds with $107m GV-backed Series C; Celgene, Valeant sell notes to retire debt; and Alnylam cashes in on investor goodwill.
With new funding in hand, Moderna and its infectious disease venture Valera are going full-speed ahead with a Zika vaccine, taking an mRNA approach, which they said could be a more rapid strategy to try to stop the disease.
Allergan CEO Brent Saunders vows not to engage in price gouging and says his firm will limit cost increases to single-digit percentages, occurring only once per year. But it's unclear whether Saunders will stand as a lone wolf in the industry or if others will make similar pledges.