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Gilead To Acquire Immunomedics For $21B

Gilead To Acquire Immunomedics For $21B

On September 13, the US-based biopharmaceutical firm, Gilead Sciences Incorporation, reported acquiring Immunomedics for a whopping $21B deal, aiding the former to have access to the latter’s cancer drug and nourishing its drug portfolio. The company posted to make an offer to Immunomedics for acquiring the remaining stocks at $88 per share, which is 108% premium over the last trading rate of $42.25.

The deal will advantage Gilead by having access to Trodelvy, Immunomedic’s breast cancer treatment medicine, which got the FDA approval in April 2020. The sale will include $6 billion payment through issued debt & $15B cash in hand pay, with settlement taking place till 2020 Q4.

Meanwhile, Gilead is in an acquisition streak, where it bought Pionyr Immunotherapeutics, cancer drug developer, for $275 million in June, marking the purchase of 49.9% stake in the firm. The company also purchased Forty Seven Incorporation, blood cancer experimental medicine company, for a $4.9B deal.

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