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

Report: Gilead Sciences And Cancer Treatment Company Immunomedics In $  20B DealGilead 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 * SoftBank Close To Selling Chip Designer To Nvidia For B * CBD Saved This Exec's Life: Now He's Launching His Own 'Connoisseur Cannabis' Brand * Amyris Denies 'Patent Infringement' Allegations On Heels Of 1M Lavvan Lawsuit(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.



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