April 17, 2009
Gilead Sciences Completes Acquisition of CV Therapeutics
FOSTER CITY, Calif.--(BUSINESS WIRE)--Apr. 17, 2009--
Gilead Sciences, Inc. (Nasdaq: GILD) announced today that it has
completed its acquisition of CV Therapeutics, Inc. (Nasdaq: CVTX).
On April 17, 2009, CV Therapeutics merged with a wholly-owned subsidiary
of Gilead. As a result of the merger, each outstanding share of CV
Therapeutics not owned by Gilead, its subsidiaries or CV Therapeutics
has been automatically converted into the right to receive $20.00 in
cash, without interest, subject to appraisal rights. CV Therapeutics
stockholders who did not tender their shares will receive a Notice of
Merger and a Letter of Transmittal that will instruct them as to how to
receive the merger consideration. The merger follows a cash tender offer
for all outstanding shares of CV Therapeutics common stock at $20.00 per
share, which was completed at one minute following 11:59 p.m., New York
City time (midnight), on April 14, 2009.
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.
Forward Looking Statements
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 the
risks and uncertainties related to Gilead’s ability to successfully
integrate the products and employees of Gilead and CV Therapeutics, its
ability to increase sales of CV Therapeutics’ approved products and its
ability to advance pipeline programs. These risks, uncertainties and
other factors, and the general risks associated with Gilead’s business
as described in reports and other documents filed with the Securities
and Exchange Commission, 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. All
forward-looking statements are based on information currently available
to Gilead and Gilead assumes no obligation to update any such
forward-looking statements or other statements included in this press
For more information on Gilead, please call the Gilead Public Affairs
Department at 1-800-GILEAD-5 (1-800-445-3235) or visit www.gilead.com.
Source: Gilead Sciences, Inc.
Gilead Sciences, Inc.
Susan Hubbard, 650-522-5715 (Investors)
Flood, 650-522-5643 (Media)