Gilead Sciences has announced that it will exercise its option to buy Seattle-based Corus Pharma, a company that focuses on respiratory and infectious diseases, for $365 million. The deal is expected to close in the third quarter of this year. In April, Gilead invested $25 million into Corus Pharma and at that time retained the option to purchase the company following the release of Phase III data. Corus' lead product is Cayston, a treatment for cystic fibrosis.
- read this Seattle Post Intelligencer report for more
- for details on the original deal between Gilead and Corus, see this press release (.pdf)