Mar 18, 2009 - 1529 days ago
CV Therapeutics CEO pledges stock as inducement to Gilead
Louis Lange, the chief executive of CV Therapeutics, agreed in effect to sell his entire stake in the company to Gilead Sciences as an “inducement” to that company to enter into an agreement to buy CV Therapeutics for $20 a share, according to a filing today with the SEC. Lange owns about 342,000 shares of the Palo Alto biopharmaceutical that has been fending off an unsolicited offer to buy the company from Tokyo-based Astellas Pharma for $16 a share.
Earlier this month CV Therapeutics characterized initial data from an early test of its proposed treatment for diabetes and heart disease “exciting.“
