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Gilead Sciences Buying Immunomedics In $21 Billion Deal

FILE – This April 30, 2020, file picture exhibits Gilead Sciences headquarters in Foster City, Calif. Shares of Immunomedics greater than doubled earlier than the market open on Monday, Sept. 14 after Gilead Sciences stated it will purchase the biotechnology firm for $21 billion. (AP Photo/Ben Margot, File)

Shares of the most cancers drug specialist Immunomedics greater than doubled earlier than the market opened Monday, a day after its sale to Gilead Sciences for $21 billion was introduced.

  • Associated Press
  • Last Updated: September 14, 2020, 5:42 PM IST

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NEW YORK: Shares of the most cancers drug specialist Immunomedics greater than doubled earlier than the market opened Monday, a day after its sale to Gilead Sciences for $21 billion was introduced.

Gilead stated on Sunday that it’s going to pay $88 per share in money because it seeks to broaden its most cancers therapies portfolio. Immunomedics’ drug Trodelvy was granted accelerated approval by the U.S. Food and Drug Administration in April for the remedy of grownup sufferers with metastatic triple-negative breast most cancers who’ve acquired no less than two prior therapies for metastatic illness. The drug can also be being studied for bladder most cancers, lung most cancers and different stable tumor varieties.






The deal is anticipated to shut within the fourth quarter.

Shares of Immunomedics, based mostly in New Jersey, jumped to $87.14 in premarket buying and selling, whereas share of California’s Gilead declined barely.

Disclaimer: This put up 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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