Monday, October 2, 2006

Gilead Buys Myogen For $2.5B

Foster City, California-based Gilead Sciences has acquired Denver, Colorado-based Myogen, for $2.5M. The deal calls for Gilead to pay $52.50 per share of Myogen common stock. Myogen develops treatments for pulmonary arterial hypertension (PAH). Gilead said Myogen is a strategic fit for the company, as it enhances the firm's growing focus on pulmonology. Gilead is being advised by Lazard; Goldman, Sachs, & Co. is representing Myogen in the deal.