Gilead Sciences, Inc. (Nasdaq:GILD) today announced that the required
waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of
1976 with respect to Gilead's cash tender offer for CV Therapeutics,
Inc. (Nasdaq:CVTX) has been terminated by the United States Federal
Trade Commission prior to the expiration of the waiting period.
The tender offer is expected to close during the second quarter of 2009,
subject to customary closing conditions. Unless the tender offer is
extended, the offer and withdrawal rights will expire at 12:00 midnight
(one minute after 11:59 pm), New York City time, on April 14, 2009.
This announcement is neither an offer to purchase nor a solicitation of
an offer to sell CV Therapeutics shares. The tender offer can only be
made through an offer to purchase, letter of transmittal and related
tender offer materials. The tender offer materials, certain other offer
materials, and the solicitation/recommendation statement have been sent
to all stockholders of CV Therapeutics and also are available free of
charge at the SEC's website at www.sec.gov.
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. For more information on Gilead Sciences, please visit the
company's website at www.gilead.com
or call Gilead Public Affairs at 1-800-GILEAD-5 or 1-650-574-3000.
Forward-Looking Statements
This press release includes forward-looking statements, within the
meaning of the Private Securities Litigation Reform Act of 1995, that
are subject to risks, uncertainties and other factors including the risk
that the acquisition of CV Therapeutics will not be consummated as the
transaction is subject to certain closing conditions. For example, the
ability of the parties to close the tender offer during the second
quarter of 2009 will depend on a number of factors outside the parties’
control, including the satisfaction of closing conditions. In addition,
if and when the transaction is consummated, there will be risks and
uncertainties related to Gilead’s ability to successfully integrate the
products and employees of Gilead and CV Therapeutics, its ability to
increase sales of CV Therapeutics’ approved products and its ability to
advance pipeline programs.
