SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

Schedule TO

Tender Offer Statement under Section 14(d)(1) or 13(e)(1)

of the Securities Exchange Act of 1934

CV Therapeutics, Inc.

(Name of Subject Company (Issuer))

Apex Merger Sub, Inc. (Offeror)

Gilead Sciences, Inc. (Parent of Offeror)

(Names of Filing Persons)

COMMON STOCK, PAR VALUE $0.001 PER SHARE

(Title of Class of Securities)

126667104

(CUSIP Number of Class of Securities)

Gregg H. Alton, Esq.

Senior Vice President and General Counsel

Gilead Sciences, Inc.

333 Lakeside Drive

Foster City, California 94404

Tel: (650) 574-3000

(Name, address, and telephone number of person authorized to receive notices

and communications on behalf of filing persons)

with copies to:

David A. Lipkin, Esq.

Michelle Sonu Park, Esq.

Brandee L. Shtevi, Esq.

Cooley Godward Kronish LLP

Five Palo Alto Square

3000 El Camino Real

Palo Alto, CA 94306-2155

Tel: (650) 843-5000

Fax: (650) 849-7400

CALCULATION OF FILING FEE

Transaction Valuation	Amount of Filing Fee
Not Applicable	Not Applicable

¨ Check the box if any part of the fee is offset as provided by Rule 0-11(a)(2) and identify the filing with which the offsetting fee was previously paid. Identify the previous filing by registration statement number or the form or schedule and the date of its filing.

x Check the box if the filing relates to preliminary communications made before the commencement of a tender offer.

Check the appropriate boxes below to designate any transactions to which the statement relates:

x third-party tender offer subject to Rule 14d-1.

¨ issuer tender offer subject to Rule 13e-4.

¨ going-private transaction subject to Rule 13e-3.

¨ amendment to Schedule 13D under Rule 13d-2.

Check the following box if the filing is a final amendment reporting the results of the tender offer: ¨

Gilead to Acquire CV Therapeutics

Announced March 12, 2009

Slide 2

Safe Harbor Disclaimer

This

presentation

contains

“forward-looking”

information

(within the meaning of the Private Securities Litigation

Reform Act of 1995) that involves substantial risk and

uncertainty.  Actual results may differ materially based on

a variety of factors, particularly those relating to the

development and marketing of pharmaceutical products

as described in the “Risk Factors”

section of Gilead’s SEC

reports, including the report on Form 10-K for the year

ended December 31, 2008.

Slide 3

Safe

Harbor

Disclaimer

(cont’d)

This

is

neither

an

offer

to

purchase

nor

a

solicitation

of

an

offer

to

sell

CV

Therapeutics

shares.

The

tender

offer

will

only

be

made

through

an

offer

to

purchase,

letter

of

transmittal

and

related

tender

offer

materials.

At

the

time

the

expected

tender

offer

is

commenced,

Gilead

will

file

these

tender

offer

materials

with

the

Securities

and

Exchange

Commission

and

CV

Therapeutics

will

file

a

solicitation/

recommendation

statement

with

respect

to

the

offer.

The

tender

offer

materials

and

the

solicitation/

recommendation

statement

will

contain

important

information.

Stockholders

are

urged

to

read

this

information

carefully

before

making

any

decisions

about

the

tender

offer.

The

tender

offer

materials,

certain

other

offer

materials,

and

the solicitation/

recommendation

statement

will

be

sent

free

of

charge to all

stockholders

of

CV

Therapeutics.

Slide 4

Gilead’s Platform Spans Four Therapeutic Areas

Atripla

Atripla

Truvada

Truvada

Viread

Viread

Emtriva

Emtriva

Elvitegravir

Elvitegravir

(Ph III)

GS 9350 (Ph I)

GS 9350 (Ph I)

Integrase

Integrase

FDR

FDR

(Ph I)

PAH

PAH

Letairis

Letairis

Flolan

Flolan

Cicletanine

Cicletanine

(Ph II)

(Ph II)

Resistant

Resistant

Hypertension

Hypertension

Darusentan

Darusentan

(Ph III)

(Ph III)

HBV

HBV

Hepsera

Hepsera

Viread

Viread

HCV

HCV

GS 9450 (Ph II)

GS 9450 (Ph II)

GS 9190 (Ph II)

GS 9190 (Ph II)

NASH

NASH

GS 9450 (Ph II)

GS 9450 (Ph II)

HIV/AIDS

HIV/AIDS

Cardiovascular

Cardiovascular

Liver Disease

Liver Disease

Respiratory

Respiratory

Influenza

Influenza

Tamiflu

Tamiflu

CF

CF

Aztreonam

Aztreonam

Lysine

Lysine

(Applications Pending)

(Applications Pending)

GS 9310 / 11 (Ph II)

GS 9310 / 11 (Ph II)

GS 9411 (Ph I)

GS 9411 (Ph I)

Bronchiectasis

Bronchiectasis

Aztreonam

Aztreonam

Lysine

Lysine

(Ph II)

(Ph II)

IPF

IPF

Ambrisentan

Ambrisentan

(Ph III)

(Ph III)

Slide 5

2008 Financial Highlights

Full year total revenues of $5.34 billion,

up 26 percent over 2007

Full year product sales of $5.08 billion,

up 36 percent over 2007

Cash flow from operations of $2.2 billion

Non-GAAP operating margin of 51% from

product sales

(1)

$3.24 billion in cash, cash equivalents and

marketable securities as of December 31, 2008

(1)  Excludes the impact of stock-based compensation expense.

Slide 6

Organizational Strengths

Gilead’s reputation as an innovative company

resonates across our key audiences

Productive drug discovery and development track

record

–

Seven product approvals over the last seven years

Efficient organizational structure

Maintain strong connections with the communities

we serve

Slide 7

Vision for CV Therapeutics

Ranexa

for chronic angina with new, stronger

US label

–

Specialty sales force detailing cardiologists

Lexiscan

opportunity in EU

Proven development and regulatory organization

–

Improved

opportunity

for

Letairis

and

darusentan

Pipeline of cardiovascular products

Improved future earnings profile and growth rate

Bolsters Gilead’s presence in the

cardiovascular space by providing:

Slide 8

Transaction Overview

Cash tender offer at $20.00 per share

Transaction value of $1.4 B

Tender offer expected to close within Q2 09

–

Subject to minimum tender requirement and

Hart-Scott-Rodino

(antitrust) clearance

Slide 9

Contribution from 2 additional marketed products

–

Ranexa (US sales and EU royalty)

–

Lexiscan (North American royalty, unpartnered in

the EU and Japan)

Increased spend for sales and marketing

Increased clinical spend

Increased discovery spend

Maintain site

Rationalization of overlapping positions

and functions

Contribution from 2 additional marketed products

–

Ranexa (US sales and EU royalty)

–

Lexiscan (North American royalty, unpartnered in

the EU and Japan)

Increased spend for sales and marketing

Increased clinical spend

Increased discovery spend

Maintain site

Rationalization of overlapping positions

and functions

REVENUES

REVENUES

EXPENSES

EXPENSES

Sales &

Marketing

Clinical

Development

Discovery

Research

G&A

Sales &

Marketing

Clinical

Development

Discovery

Research

G&A

Impact on Gilead’s P&L

*

* Expected to be dilutive in 2009, neutral to accretive in 2010,

and accretive in 2011 and beyond.

Slide 10

CV Therapeutics’

Products and Pipeline Would

Significantly Augment Gilead’s Cardiovascular Efforts

Product

MOA

Clinical Indication(s)

Stage

Partnerships

Ranexa

®

(ranolazine

ER)

Late sodium

channel inhibitor

Chronic Angina

Marketed

(US and EU)

Licensed from Roche,

Menarini

has E.U. rights

(CV Therapeutics  has

co-promote in UK &

Germany)

Lexiscan

®

(regadenoson)

A

2

a-adenosine

receptor agonist

Myocardial Perfusion

Imaging

Marketed

Astellas

has

North American rights

Unpartnered

Ex-NA

Adentri

®

(CVT-124)

A

1

-adenosine

receptor

antagonist

Acute Heart Failure

Phase III

Biogen

Idec has

worldwide rights

Tecadenoson

A

1

-adenosine

receptor agonist

Atrial

Fibrillation

Phase II

Unpartnered

CVT-6883

A

2b

-adenosine

receptor

antagonist

Pulmonary Diseases

(asthma, COPD, IPF)

Phase I

Unpartnered

CVT-3619

Partial A

1

-

adenosine

receptor agonist

Diabetes

Phase I

Unpartnered

Slide 11

Ranexa:

Granted New U.S. Indication in November 2008

Ranexa is indicated for the

treatment of chronic angina.

Ranexa may be used with beta-blockers,

nitrates, calcium channel blockers, anti-

platelet therapy, lipid-lowering therapy, ACE

inhibitors and angiotensin receptor blockers.

Slide 12

Chronic Angina: US Patient Waterfall

75

10,197

0

1,000

2,000

3,000

4,000

5,000

6,000

7,000

8,000

9,000

10,000

11,000

1,071

Refractory Angina

3,4,5

Diabetes/Angina

Ranexa Pts

6

1,784

(25%)

1,499

(21%)

7,138

Treated Angina

2

Angina Prevalence

1

3,854

Other

268

HF, 225

7%

Chronic HF/Angina

70%

15%

Patients (000s)

1AHA

Statistical

Update.

Heart

Disease

and

Stroke

Statistics

–

2009

update.

2 F.C.

Wiest,

et.

al.

Suboptimal

Pharmacotherapeutic

Management

of

Chronic

Stable

Angina

in

the

Primary

Care

setting.

Am J Med.

2004;117:234 –241.

3 Gilead Market Research.

4Diabetes

rate

in

angina

patients

in

the

CARISA

trial

23%

and

in

the

Marisa

trial

was

24.1%.  

5Cardiovascular Resource Group Report (Heart Failure 2008–2017).

6Trx data analysis (Wolters

Kluwer).

Refractory angina patients include

patients with symptoms despite

maximum tolerated doses of Beta

Blockers, Calcium Channel

Blockers, and Long Acting Nitrates

Significant portions of treated and

refractory angina patients have co-

morbidities (Diabetes, Heart

Failure).

Slide 13

Provides Opportunity to Relaunch

Ranexa

Sales and marketing roadmap for relaunch

–

Size salesforce

appropriately (currently 170 reps)

–

Target specialty and intervention cardiologists who treat refractory

angina patients

–

Leverage proven medical education model

Favorable revisions to the label based on proven safety

in outcomes study in 6,500 high-risk coronary patients

(MERLIN)

–

Removed contraindications for diltiazem

and verapamil

–

Can be used with major classes of cardio-protective drugs

–

HbA1c reduction now referenced

–

Claims for safe reductions in ventricular tachycardia, supraventricular

tachycardia, new onset atrial

fibrillation, bradycardia

Slide 14

Limitations of older therapies

–

Beta Blockers:  bradycardia

(especially in the elderly),

fatigue, drowsiness and depression

–

Calcium Channel Blockers:  may cause bradycardia,

dizziness and peripheral edema

–

Long Acting Nitrates:  occurrence of tolerance, headaches,

dizziness and contraindicated with ED drugs

COURAGE trial supports medical management

prior to stenting

10% growth in the angina population since 2006

–

Currently

9.8M

patients

in

US,

with

500K

new

patients

annually

Angina Largely Underserved by

Previous Classes of Drugs

1 –

AHA 2009 Heart & Stroke Stats (500k is pts older than 45)

1

Slide 15

64% YOY Growth in US Ranexa

Sales

Growth through 11/6/08 was with old label

Increasingly favorable managed care status

($ in millions)

$15.3

$18.4

$20.9

$22.0

$25.4

$30.3

$31.5

$12.0

Q1'07

Q2'07

Q3'07

Q4'07

Q1'08

Q2'08

Q3'08

Q4'08

Slide 16

Ranexa

Opportunity in Europe

Menarini

has EU rights to Ranexa

–

Strong cardiology commercial presence in EU

–

Launched in UK and Germany (March 2009)

–

Other EU countries to follow

In

most

European

countries,

20,0000

-

40,000

individuals per million suffer from angina

1 –

European Heart Journal, 2006

Ranexa

is indicated as add-on therapy for the

symptomatic treatment of patients with stable

angina pectoris who are inadequately controlled or

intolerant to first-line antianginal

therapies (such as

beta-blockers and/or calcium antagonists).

Slide 17

Successful Lexiscan U.S. Launch

Lexiscan

®

(regadenoson) launched by Astellas in the U.S.

in June 2008 ($46 M

sales in 2008)

Already taking substantial portion of pharma stress market

Expanding Myocardial Perfusion Imaging (MPI) market

1 –

"Stress Protocols and Tracers" section of the ASNC Imaging Guidelines for Nuclear Cardiology Procedures )

1996

1998

2000

2002

2004

2006

MPI Scans

(in millions)

Pharma Stress

(in millions)

7.7

3.4

7.1

3.1

6.0

2.5

5.0

1.8

4.0

1.2

3.4

0.9

Slide 18

Regadenoson

EU Filing in 2009,

Potential Launch in 2010

Ex-US rights unpartnered; MAA submission

planned in 2009

–

Based on US NDA including 10 clinical trials in

1,651 patients

Eligibility for centralized filing confirmed

EMEA pre-submission meeting completed

Will work to define commercialization strategy

1 –

NEJM 360:213, 2009

2 –

Multiple detector computed tomography

Slide 19

Adentri

for Acute Heart Failure

A

1

adenosine antagonist which

maintains renal function while

facilitating diuresis

in patients with

heart failure

Licensed to Biogen

Idec in1997

–

Potential for milestone and royalty

payments

Ongoing Phase III study

(TRIDENT-1; began 8/08)

–

Assess the efficacy and safety of IV

Adentri

®

dosed up to 5 days on

body weight in ADHF patients with

impaired renal function

1 –

JACC Vol

50, No. 7, 2007

Phase II Results

Change from Baseline

in Urine Volume

-400

-200

0

400

600

800

Day 1

Day 6

Day 10

3 mg

15 mg

75 mg

225 mg

Placebo

200

Slide 20

Tecadenoson

for Rapid Atrial

Fibrillation

A

1

adenosine receptor agonist which produces

rapid rate control without drop in blood pressure

Phase III results in PSVT patients

–

Rapidly convert PSVT in up to 90% of patients to normal heart rhythm

–

No significant adverse symptoms or hemodynamic side effects

–

Development in PSVT halted due to small market opportunity

Completed second Phase II in rapid atrial

fibrillation (AF) patients in Q308

–

Intravenous tecadenoson

co-administered with ultra low doses of

beta-blockers

–

Demonstrated synergy in providing adequate rate control during atrial

fibrillation without decreasing blood pressure

–

Determining future development strategy in AF

Slide 21

CVT-3619 for Diabetes

A small molecule partial A

1

adenosine

receptor agonist

–

Orally bioavailable, once-a-day dosing

Inhibitor of adipose tissue lipolysis:

lowers circulating FFA1

–

Improves insulin sensitivity

–

Decreases plasma triglycerides by inhibiting the

breakdown of triglycerides from the liver

–

May raise HDL

Completed first Phase 1 study

–

Safe and well-tolerated up to 1800 mg

–

No significant effect on HR, BP and PR interval

–

Appears to elicit reduction in circulating FFA

–

Plan to start multiple ascending dose study in

2009

FFA

Activate A

1

agonist

Triglycerides

Insulin Sensitivity

HDL

Proposed Physiologic

Cascade:

1 –

Based on preclinical data

Slide 22

CVT-6883 for Pulmonary Disease

(Asthma, COPD, IPF)

Proprietary small molecule that is anti-fibrotic, anti-

inflammatory and anti-angiogenic

First in class selective antagonist of A

2B

adenosine

receptor

mediated

actions

(does

not

attenuate

A

1

,

A

2A

, or A

3

-receptor mediated actions)

Completed three Phase 1 studies

–

Good oral absorption

–

Safe and well tolerated at concentrations that exceed 100x

receptor binding affinity

–

PK coverage consistent with once/day dosing

–

Number of patients exposed >100

Slide 23

Gilead’s Platform Spans Four Therapeutic Areas

Atripla

Atripla

Truvada

Truvada

Viread

Viread

Emtriva

Emtriva

Elvitegravir

Elvitegravir

(Ph III)

(Ph III)

GS 9350 (Ph I)

GS 9350 (Ph I)

Integrase

Integrase

FDR

FDR

(Ph I)

(Ph I)

PAH

PAH

Letairis

Letairis

Flolan

Flolan

Cicletanine

Cicletanine

(Ph II)

(Ph II)

Resistant

Resistant

Hypertension

Hypertension

Darusentan

Darusentan

(Ph III)

(Ph III)

HBV

HBV

Hepsera

Hepsera

Viread

Viread

HCV

HCV

GS 9450 (Ph II)

GS 9450 (Ph II)

GS 9190 (Ph II)

GS 9190 (Ph II)

NASH

NASH

GS 9450 (Ph II)

GS 9450 (Ph II)

HIV/AIDS

HIV/AIDS

Cardiovascular

Cardiovascular

Influenza

Influenza

Tamiflu

Tamiflu

CF

CF

Aztreonam

Aztreonam

Lysine

Lysine

(Applications Pending)

(Applications Pending)

GS 9310 / 11 (Ph II)

GS 9310 / 11 (Ph II)

GS 9411 (Ph I)

GS 9411 (Ph I)

Bronchiectasis

Bronchiectasis

Aztreonam

Aztreonam

Lysine

Lysine

(Ph II)

(Ph II)

IPF

IPF

Ambrisentan

Ambrisentan

(Ph III)

(Ph III)

Respiratory

Respiratory

Liver Disease

Liver Disease

Slide 24

CV Therapeutics Product Portfolio

Significantly Augments This Platform

Gilead

Gilead

Tamiflu

Tamiflu

-

-

Influenza

Influenza

Aztreonam

Aztreonam

Lysine  -

Lysine  -

CF

CF

GS 9310 / 11 -

GS 9310 / 11 -

CF

CF

GS 9411 -

GS 9411 -

CF

CF

Aztreonam

Aztreonam

Lysine -

Lysine -

Bronchiestasis

Bronchiestasis

Ambrisentan

Ambrisentan

-

-

IPF

IPF

CV Therapeutics

CV Therapeutics

CVT-6883 -

CVT-6883 -

Pulmonary Diseases

Pulmonary Diseases

Respiratory

Respiratory

Gilead

Gilead

Letairis

Letairis

-

-

PAH

PAH

Flolan

Flolan

-

-

PAH

PAH

Cicletanine

Cicletanine

-

-

PAH

PAH

Darusentan

Darusentan

-

-

Resistant Hypertension

Resistant Hypertension

CV Therapeutics

CV Therapeutics

Ranexa

Ranexa

-

-

Angina

Angina

Lexiscan

Lexiscan

-

-

MPI

MPI

Adentri

Adentri

-

-

Acute Heart Failure

Acute Heart Failure

Tecadenoson

Tecadenoson

-

-

Atrial

Atrial

Fibrillation

Fibrillation

CVT-3619 -

CVT-3619 -

Diabetes

Diabetes

Cardiovascular / Metabolic

Cardiovascular / Metabolic

Slide 25

Gilead and CV Therapeutics: 

Strength in Partnership

S&M relaunch resource

Commercial Operations

infrastructure

Medical Affairs experience

European operating

affiliates

Gilead

Revised Ranexa label

US Cardiology sales team

Cardiovascular clinical

know-how

Managed Care network

CV Therapeutics

CV Therapeutics

Slide 26

Vision for CV Therapeutics

Ranexa for chronic angina with new, stronger

US label

–

Specialty sales force detailing cardiologists

Lexiscan opportunity in EU

Proven development and regulatory organization

–

Improved opportunity for Letairis and darusentan

Pipeline of cardiovascular products

Improved future earnings profile and growth rate

Bolsters Gilead’s presence in the

cardiovascular space by providing: