Gilead Completes Purchase of Foster City Buildings and Land

Gilead Sciences (GILD: 47.68 +0.55%) has completed the purchase of 301 Velocity Way and 30 acres of land from Electronics For Imaging (EFII: 11.86 -2.63%). The deal was first announced on October 24, 2008, and after exteding escrow once, the deal was finally closed.

It’s unclear whether Gilead will still start construction this year, as it had initially planned, but the buy gives them plenty of breathing room should their plan to double materialize.

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