Kite's portfolio of potential treatments includes one for the blood cancer lymphoma that could receive U.S. regulatory approval later this year. The Santa Monica, California-based company specializes in developing treatments that are custom-made to target a patient's cancer. They said that the Kite deal helps establish Gilead as a leader in so-called cellular therapy and provides an opportunity to diversify revenue. With the Kite deal, he added, "Gilead is paying a large premium on top of Kite's stock price, which already has run up this year. " The companies expect approval for Kite's potential treatment of refractory aggressive non-Hodgkin lymphoma around November in the United States and next year in Europe.

Source: ABC News August 28, 2017 11:27 UTC