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Gilead Sciences Nears Deal to Buy Immunomedics for More Than $20 Billion, Says Report

FILE PHOTO: Gilead Sciences Inc pharmaceutical company. 
REUTERS/Mike Blake/File Photo

FILE PHOTO: Gilead Sciences Inc pharmaceutical firm.
REUTERS/Mike Blake/File Photo

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

  • Reuters
  • Last Updated: September 13, 2020, 8:33 AM 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 may 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 sort of breast most cancers known as Metastatic Triple-Negative Breast Cancer, may very well be introduced Monday if not sooner, the Journal mentioned, citing individuals conversant in 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 constructive 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 purpose 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.


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