Gilead Sciences Yescarta Drug Approved By FDA

Shares of Gilead Sciences rose 2% Thursday after the FDA approved its Yescarta lymphoma cancer therapy drug.
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Shares of Gilead Sciences GILD rose 2% Thursday after the FDA approved its Yescarta lymphoma cancer therapy drug.

The greenlight comes after a six month trial.

Yescarta was developed by Kite Pharma, which Gilead acquired in August for $11.9 billion. The new drug is among the most highly anticipated on Wall Street and is expected to tally $1.7 billion in sales throughout the world over the next five years. Yescarta will cost $373,000 in the U.S.

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