Posted on August 25, 2009 by Joan M. Ruddy

Gilead Sciences Inc. Receives Subpoena Regarding Ranexa Heart Drug

Gilead Sciences Inc. ("Gilead") received a subpoena from the Inspector General of the Health and Human Services Department regarding the development and marketing of its Ranexa heart drug.

The subpoena comes just months after Gilead acquired CV Therapeutics in order to obtain the drug Ranexa.  Investors who bought Gilead stock on the presumption that Ranexa would contribute to earnings in coming years may now be at risk, should the government determine there are problems with the drug.  Shareholders may be able to recover damages if the government determines Gilead was aware of, or should have been aware of, substantive problems with Ranexa when Gilead purchased CV Therapeutics and failed to disclose material information to investors.

If you purchased shares of Gilead, please contact us to discuss your legal options.

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