Gilead Sciences News Is Not Just Gossip
Real news, not just gossip, is spreading today about Gilead Sciences (GILD) nearing a deal to acquire the biotech firm Immunomedics (IMMU) for $20 billion. Immunomedics current market value is around $10 billion which means that Gilead is buying it at double its value.
The deal could be announced on Monday, if not sooner, if the talks go smoothly and do not stall for one reason or another.
Immunomedics sells its breast cancer anti-body drug candidate, Trodelvy, which was granted approval in April for the treatment of triple-negative breast cancer. That could be the reason behind Gilead’s attraction as the firm is already working on growing its oncology portfolio which started with the acquisition of Kite Pharmaceuticals and recently succeeded in stretching its CAR T market by increasing the number of cancers treated with its immuno-oncology CAR T product.
Please read the recent articles we posted about Gilead by clicking here.