Gilead to buy Arresto for $225 million

Gilead Sciences is to acquire the privately-held US biotech Arresto Biosciences for $225 million to gain a pipeline of products targeting fibrotic diseases and cancer, including a candidate for the treatment of idiopathic pulmonary fibrosis (IPF). Gilead discontinued its Phase III trial of ambrisentan to treat IPF this week owing to lack of efficacy.