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Gilead Nears Deal To Buy Immunomedics For More Than $20 Billion – WSJ

UK-IMMUNOMEDICS-M-A-GILEAD-SCIENCES:Gilead nears deal to purchase Immunomedics for greater than $20 billion – WSJ

Gilead Sciences Inc is nearing a deal to purchase biopharmaceutical firm Immunomedics Inc for greater than $20 billion in a deal that will additional increase Gilead’s portfolio of most cancers therapies, the Wall Street Journal reported on Saturday.

  • Reuters
  • Last Updated: September 13, 2020, 12:12 PM IST

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Gilead Sciences Inc is nearing a deal to purchase biopharmaceutical firm Immunomedics Inc for greater than $20 billion in a deal that will additional increase Gilead’s portfolio of most cancers therapies, the Wall Street Journal reported on Saturday.

A deal for Immunomedics, whose most cancers remedy Trodelvy is FDA-approved as a third-line therapy for an aggressive kind of breast most cancers referred to as Metastatic Triple-Negative Breast Cancer, may very well be introduced Monday if not sooner, the Journal stated https://www.wsj.com/articles/gilead-nears-deal-to-buy-immunomedics-for-more-than-20-billion-11599936777?mod=hp_lead_pos2, citing folks accustomed to the matter.






Discussions between Gilead and Immunomedics have been initially centered round a partnership earlier than shifting to a full-fledged takeover negotiation, the Journal added.

Gilead and Immunomedics didn’t reply instantly to emailed requests from Reuters for remark.

Shares of Immunomedics, which final month reported optimistic knowledge from a late-stage confirmatory examine for Trodelvy, have almost doubled this yr, giving the corporate a valuation of near $10 billion.

An acquisition of Immunomedics would add to a number of offers Gilead inked this yr with the intention of increasing its oncology portfolio.

It purchased a 49.9% stake in most cancers drug developer Pionyr Immunotherapeutics in June for $275 million, simply months after paying $4.9 billion for Forty Seven Inc, maker of an experimental therapy that targets blood most cancers.

Disclaimer: This publish has been auto-published from an company feed with none modifications to the textual content and has not been reviewed by an editor


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