Gilead charms Pharmasset for potential Hep C blockbuster

By Scott Matusow:These are some bio-pharmas that should be on the move Monday and possibly for the entire week. The common thread between these companies is tied in this week with one company releasing clinical trial data.

By Zacks.com: Gilead Sciences (GILD) announced recently that it has entered into a definitive agreement to acquire Pharmasset, Inc. (VRUS), a maker of drugs for the treatment of chronic hepatitis C virus (HCV), for $11 billion.

ByPropThink:By Jake KingAchillion

By EP Vantage:The analyst community might have already written the epitaph for Vertex Pharmaceuticals’ (VRTX) Incivek and Merck & Co’s (MRK) Victrelis, but the search for growth for the two hepatitis C treatments continues apace.

By Stephen Simpson:It's pretty remarkable just how quickly a hepatitis C (HCV) drug candidate can go from hero to villain in today's market. Investors cheered Gilead's (GILD) bold (and expensive) bid for Pharmasset ... until some concerns about the efficacy of lead drug GS-7977 popped up.

By Chris Katje: Many analysts were worried when Gilead (GILD) paid a steep premium for Biotech company Pharmasset. Gilead paid $11 billion to acquire Pharmasset, which had no drugs on the market, but several under development. Pharmasset's PSI-7977, which is targeting Hepatitis C, was the main reason biotech companies had been looking to acquire the company.

On Monday, Gilead (GILD) surprised Wall Street with its $11 billion acquisition of biotech fledgling Pharmasset (VRUS).

By Smith On Stocks:Gilead (GILD) is certainly paying up for Pharmasset (VRUS) with its offer to buy the company at $137 per share ($11 billion), an 89% premium to last Friday's close. Gilead will be paying for the acquisition with cash on hand and debt.