Gilead has agreed to buy Immunomedics for twenty-one billion dollars

As the pharmaceutical giant aims to reinforce its cancer portfolio through several M&A alliances and acquisitions, Gilead has agreed to buy Immunomedics for twenty-one billion dollars. The acquisition will be funded by six billion dollars being offered in newly issued debt and fifteen billion dollars in cash.

Gilead acquires rights to Immunomedics antibody-drug conjugate (ADC) Trodelvy (sacituzumab govitecan-hziy), for the treatment of metastatic triple-negative breast cancer (mTNBC), which was approved by the US FDA earlier this year. In the first half of 2021, Immunomedics
will also seek EU approval for Trodelvy.

CEO and Chairman of Gilead, Daniel O’Day, stated: “This acquisition represents significant progress in Gilead’s work to build a strong and diverse oncology portfolio. Trodelvy is an approved, transformational medicine for a form of cancer that is particularly challenging to treat. We will now continue to explore its potential to treat many other types of cancer, both as a monotherapy and in combination with other treatments.”