Gilead Sciences wraps up $21bn acquisition of Immunomedics


Gilead Sciences has wrapped up its previously announced $21 billion acquisition of New Jersey-based biopharma company Immunomedics.

With the completion of the deal, Immunomedics has now become a fully-owned subsidiary of Gilead Sciences. The common stock of Immunomedics will be delisted from the Nasdaq Global Market.

Immunomedics, which has been acquired for $88 per share in cash by the US pharma giant, has been engaged in developing antibody-drug conjugates (ADCs) for the treatment of hard-to-treat cancers.

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The company’s Trodelvy (sacituzumab govitecan-hziy) is the first ADC to be approved by the US Food Drug and Administration (FDA) for the treatment of metastatic triple-negative breast cancer. Trodelvy is also the first anti-Trop-2 ADC to have been approved by the FDA.

Commenting on Gilead acquisition of Immunomedics, Daniel O’Day – Chairman and CEO of Gilead Sciences said: “We are very pleased to reach today’s milestone and to welcome the talented Immunomedics team to the Gilead family. There is a lot of important work ahead of us to deliver on the vast potential that Trodelvy offers for patients with cancer.

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“Together we will bring Trodelvy to many more patients around the world with triple-negative breast cancer and continue to explore its potential in many other types of cancer, both as a monotherapy and in combination with other treatments.”

Meanwhile, Gilead Sciences has bagged Remdesivir FDA approval for the treatment of Covid-19 in patients needing hospitalization.

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