Pharmasset soars on $11B offer, but Gilead investors disturbed

Gilead Sciences’ investors seemed puzzled over the pricey offer of $137 per share, or about $11 billion, the biotech giant laid down for Pharmasset on 21 November, with investors reacting with immediate disdain, driving shares of Gilead down as low as 14%, or $5.53, in morning trading.