Monday, August 8, 2011

Gilead to buy Genentech manufacturing facility

Gilead Sciences Inc. will buy a clinical manufacturing facility in southern California from Genentech, moving 55 workers from one Bay Area life sciences powerhouse to another.
The companies did not say how much Foster City-based Gilead (NASDAQ: GILD) will pay for 70,000-square-foot plant and other assets in Oceanside, which makes biologic compounds for Phase I and Phase II clinical trials and toxicity studies for South San Francisco-based Genentech.
The deal is expected to close in the third quarter.

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