c25a80e00f73867bdffcea5ca472ff19.png

Gilead Sciences And Cancer Treatment Company Immunomedics In $20B Deal

Gilead Sciences Inc. (NASDAQ: GILD) is gearing up to purchase drug innovator Immunomedics Inc. (NASDAQ: IMMU) for a price tag exceeding $20 billion.

Per the Wall Street Journal, Immunomedics — a biotech known for breast-cancer treatment Trodelvy — was initially a partner of Gilead before takeover talks began. 

Terms are expected to be announced Monday. 

Immunomedics, whose valuation hovers $10 billion, is just the latest in a series of deals Gilead made in 2020.

In June, Foster City, California-based Gilead acquired a 49.9% stake in cancer drug developer Pionyr Immunotherapeutics for $275 million. Before that, it spent $4.9 billion for Forty Seven Inc., a company that makes blood cancer treatments.

Gilead closed Friday, Sept. 11 at $65.58 a share, while Immunomedics shares closed at $41.93.

See more from Benzinga

© 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.


Source link

Share this post

Share on facebook
Share on google
Share on twitter
Share on linkedin
Share on pinterest
Share on print
Share on email

Leave a Reply