Gilead completes acquisition of Pharmasset

FOSTER CITY, Calif. — Drug maker Gilead Sciences has completed its $11.2 billion acquisition of Pharmasset, Gilead said.

The $137-per-share merger, originally announced in November 2011, makes Pharmasset a wholly owned subsidiary of Gilead. Pharmasset, based in Princeton, N.J., focuses on developing orally administered drugs for viral infections, particularly hepatitis C.

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