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1 Safe-Haven Stock for the Near Term

TheMotleyFool

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Behemoth biotech Gilead Sciences (NASDAQ: GILD) announced on March 2 that it will acquire up-and-coming cancer drug developer Forty Seven (NASDAQ: FTSV) for $4.9 billion. Biotech investors had been calling on Gilead to make strategic moves like this to shore up prospects in the wake of declining sales of its blockbuster hepatitis-C franchise.

Image source: Getty Images.

Gilead made waves in 2017 when it announced an $11.9 billion agreement to buy Kite Pharma, a cell therapy specialist focused on immuno-oncology. With shuffling of management at Gilead over the past few years, investors have been watching for the new team to leave its mark.

Source Fool.com

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