Aug 28, 2017

Gilead buys Kite Pharma for $11.9 billion

Eric Risberg / AP

Gilead Sciences said Monday it will buy Kite Pharma for $11.9 billion. Kite makes a breakthrough therapy that uses a patient's own immune cells to attack cancer cells, which is expected to get FDA approval this fall.

Why it matters: Gilead has been flying high since it bought Pharmasset in similar-sized deal in 2011, which gave Gilead its blockbuster hepatitis C drugs. But investors have been clamoring for Gilead to use its mountain of cash on a new deal. The acquisition of Kite adds another potentially game-changing drug to Gilead's business.

Yes, but: The price of Kite's cancer treatments (and similar treatments made by other drug companies) is a "quantum leap more expensive than other cancer drugs," Kaiser Health News recently reported. Gilead has already faced criticism for setting high list prices for its hepatitis C drugs.

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Assault weapons ban dies in Virginia Senate despite Democratic control

Gun-rights ralliers at a protest outside the Virginia Capitol Building in January. Photo ROBERTO SCHMIDT/AFP via Getty Images.

An assault weapons ban died in the Virginia Senate Judiciary Committee on Monday despite a Democratic majority in the assembly, the Washington Post reports.

Why it matters: Democrats flipped the Virginia House and Senate last year after campaigning hard on gun control. The assault weapons bill would have banned future transfers and sales of all assault weapons in the state.

What we know: Deadly Storm Dennis whips at England, Wales and Ireland

Photo: OLI SCARFF/AFP via Getty Images.

At least two deaths are being attributed to Storm Dennis on Monday as it continues to strike at parts of England, Wales and Ireland, per AccuWeather.

The big picture: Dennis is the second-strongest nontropical storm ever recorded in the North Atlantic Ocean. Its hurricane-force winds and heavy rains have caused widespread flooding across the United Kingdom. The army has been deployed in the U.K. to help with flood relief.

Go deeperArrow32 mins ago - Science

Coronavirus cases rise as 14 American evacuees infected

Data: The Center for Systems Science and Engineering at Johns Hopkins, the CDC, and China's NHC; Note: China refers to mainland China and the Diamond Princess is the cruise ship offshore Yokohama, Japan. Map: Danielle Alberti/Axios

14 Americans evacuated from the Diamond Princess cruise ship tested positive for the novel coronavirus before being flown in a "specialist containment" on a plane repatriating U.S. citizens back home, the U.S. government said early Monday.

The big picture: COVID-19 has now killed at least 1,775 people and infected more than 70,000 others. Most cases and all but five of the deaths have occurred in mainland China.

Go deeperArrowUpdated 3 hours ago - Health