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Gilead Faces Doubts on Wall Street a Year After $12 Billion Deal

Tatiana Darie
Gilead Faces Doubts on Wall Street a Year After $12 Billion Deal

Investors in Gilead Sciences Inc. are still waiting for the company to prove the value of last year’s purchase of Kite Pharma Inc., and time may be running out. Adding to concerns, Gilead’s long-time chairman, chief executive officer and chief medical officer have all recently stepped down. Robert W. Baird & Co. analyst Brian Skorney says Gilead may have to write down the deal, which the company values at $11.9 billion.