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Gilead to buy Kite Pharma for $11B

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Gilead Sciences agreed to buy Kite Pharma for $11 billion, people familiar with the matter told Dow Jones Newswires.

The all-cash deal would give Gilead access to Kite Pharma's new technology designed to harness the body's immune system to fight cancer.

Foster City, California-based Gilead's portfolio includes infectious-disease treatments.

Read more from Dow Jones Newswires.

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