Gilead Sciences Completes Acquisition of Raylo Chemicals Inc.
Friday November 3, 4:00 pm ET
FOSTER CITY, Calif.--(BUSINESS WIRE)--Gilead Sciences, Inc. 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.
Source: Gilead Sciences, Inc.
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