Cognizant Renews Partnership With Gilead Valued $800 Mln, For 5 Years

(RTTNews) - Technology major Cognizant Technology Solutions Corporation (CTSH) announced on Monday an expansion of its collaboration with Gilead Sciences (GILD) a biopharmaceutical company, for 5 years with a valuation of around $800 million.

Cognizant will manage Gilead's global IT infrastructure, platforms, applications and advanced analytics. This is expected to help Gilead speed up marketing of various medicines for life-threatening diseases, including HIV, viral hepatitis, and cancer.

Cognizant will also expand cloud operations and utilize AI to help enhance Gilead's customer service experience.

In pre-market activity, shares of Cognizant are trading at $66.81 on Nasdaq and shares of Gilead are trading at $79.09 down 1.92%.