Gilead Sciences to Acquire Forty Seven
Gilead Sciences (GILD) and Forty Seven (FTSV) announced today that the companies have entered into a definitive agreement pursuant to which Gilead will acquire Forty Seven for $95.50 per share in cash. The transaction, which values Forty-Seven at approximately $4.9 billion, was unanimously approved by both the Gilead and Forty Seven Boards of Directors and is anticipated to close during the second quarter of 2020; subject to regulatory approvals and other customary closing conditions.
The acquisition is expected to strengthen Gilead’s immuno-oncology research and development portfolio. Magrolimab, the lead product of Forty Seven, is a monoclonal antibody in clinical development for several cancers for which new, transformative medicines are urgently needed including: myelodysplastic syndrome (MDS), acute myeloid leukemia (AML) and diffuse large B-cell lymphoma (DLBCL).