Gilead Sciences has entered into a definitive agreement to acquire CV Therapeutics for approximately $1.4 billion in cash through a tender offer and second-step merger. CV Therapeutics will become a wholly owned subsidiary of Gilead.

CV Therapeutics focuses on the development of small molecule drugs for the treatment of cardiovascular diseases. In 2008, its two marketed products — Ranexa extended-release tablets for the treatment of chronic angina and Lexiscan (injection, a pharmacologic stress agent in myocardial imaging — generated revenues of $154.5 million. The company’s pipeline includes multiple product candidates currently being evaluated for the treatment of atrial fibrillation, pulmonary diseases and diabetes. CV had previously rejected a takeover bid by Astellas.

“The acquisition of CV Therapeutics represents a unique opportunity to complement and strengthen our growing cardiovascular portfolio,” said John C. Martin, Ph.D., chairman and chief executive officer, Gilead Sciences. “CV Therapeutics’ experienced management team has built a portfolio of marketed and investigational products that address significant unmet medical needs, and that represent a strategic fit with Gilead’s capabilities and focus. We look forward to working together with the CV Therapeutics team to bring Ranexa to more patients and deliver on the potential of the company’s promising pipeline programs.”

“Since our company’s founding more than 15 years ago, we have been focused on the development of medications to address cardiovascular disease,” said Louis Lange, M.D., Ph.D., chairman and chief executive officer, CV Therapeutics. “Through the dedication and effort of our employees, we have made tremendous progress in changing the practice of cardiology. We are very pleased with the offer Gilead presented, which we believe represents compelling value for our shareholders.”