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O'Melveny's Zucker Quoted in Several Publications About Gilead's Deal with PharmassetNovember 22, 2011
O'Melveny & Myers LLP Mergers & Acquisitions partner Sam Zucker is quoted in several publications including the The Deal Pipeline and the Daily Journal regarding Gilead's deal with Pharmasset. According to the November 22, 2011, Daily Journal article, Gilead Sciences paid US$137 per share to buy New Jersey-based Pharmasset, a maker of hepatitis C treatments. The transaction is expected to close in the first quarter of 2012. The article notes that Pharmasset is an opportunity for Gilead, a company known for making AIDS treatments, to expand its presence in the growing hepatitis C market, where there are few effective therapies and available treatments are costly. Zucker, who resides in O'Melveny's Silicon Valley office, advises biotechnology companies on financial transactions. He is quoted by the Daily Journal saying "this transaction is reflective of a biopharmaceutical buyer's desire to extend and expand its drug pipeline in a logical way and to pay a large premium to make sure it can. Gilead has been diversifying beyond HIV drugs and has been developing therapies for hepatitis C, making Pharmasset - which appears to have attractive hepatitis C data - a logical choice."