Gilead Sciences to Purchase CGI Pharmaceuticals

space4work2Gilead Sciences, the research-based biopharmaceuticals company is to purchase the privately-held healthcare firm, CGI Pharmaceuticals.

CGI Pharmaceuticals, who specialise in small molecule chemistry and kinase biology, have developed a range of small molecule kinase inhibitors. The inhibitors are believed to have the potential to treat conditions such as rheumatoid arthritis.

The takeover, which is said to be completely in the third quarter of 2010, will cost Gilead Sciences a total of £79.7m.

Speaking of the acquisition, Gilead’s executive vice-president of R&D and CEO stated, “The acquisition of CGI represents a unique opportunity to expand our research efforts in an interesting and promising area of drug discovery.”

Looking for a new job in science? Click here to search our current science job vacancies now.

Posted in: General, News
CK Logo in place of featured image