November 03, 2006
Gilead Sciences Completes Acquisition of Raylo Chemicals Inc.
FOSTER CITY, Calif.--(BUSINESS WIRE)--Nov. 3, 2006--Gilead Sciences, Inc. (Nasdaq:GILD) today announced that the company has completed its acquisition of Raylo Chemicals Inc., a subsidiary of Germany-based specialty chemicals company Degussa AG, for approximately 107 million euros.
Gilead intends to utilize this Edmonton, Alberta-based site for process research and scale-up of clinical development candidates, for manufacturing of active pharmaceutical ingredients (API) for both investigational and commercial products and for chemical development activities to improve existing commercial manufacturing processes.
Gilead and Degussa announced the planned acquisition on June 6, 2006.
About Gilead Sciences
Gilead Sciences is a biopharmaceutical company that discovers, develops and commercializes innovative therapeutics in areas of unmet medical need. The company's mission is to advance the care of patients suffering from life-threatening diseases worldwide. Headquartered in Foster City, California, Gilead has operations in North America, Europe and Australia. For more information, please visit www.gilead.com.
This press release includes forward-looking statements, within the meaning of the Private Securities Litigation Reform Act of 1995, that are subject to risks, uncertainties and other factors, including risks and uncertainties related to the companies' ability to successfully integrate the two companies. These risks, uncertainties and other factors could cause actual results to differ materially from those referred to in the forward-looking statements. The reader is cautioned not to rely on these forward-looking statements. For these and other risks Gilead directs its readers to its Annual Report on Form 10-K for the year ended December 31, 2005 and the report on Form 10Q for the first and second quarters of 2006 as filed with the U.S. Securities and Exchange Commission. All forward-looking statements are based on information currently available to Gilead and Gilead assumes no obligation to update any such forward-looking statements.
CONTACT: Gilead Sciences, Inc.
Susan Hubbard, 650-522-5715 (Investors)
Erin Edgley, 650-522-5635 (Media)
SOURCE: Gilead Sciences, Inc.