Sector News

Gilead to buy Immunomedics for $21bn

September 15, 2020
Life sciences

Gilead Sciences has announced plans to acquire Immunomedics in a deal valued at $21 billion.

Under the agreement, which has been unanimously approved by both boards of directors, Gilead will acquire the firm for $88 per share in cash, with the deal anticipated to close sometime in the fourth quarter of 2020.

The move buys Gilead access to Immunomedics’ Trodelvy (sacituzumab govitecan-hziy), a first-in-class antibody-drug conjugate (ADC) granted accelerated approval by the US Food and Drug Administration (FDA) in April for the treatment of adults with metastatic triple-negative breast cancer (mTNBC) who have received at least two prior therapies for metastatic disease.

Immunomedics is planning to submit a supplemental Biologics License Application (BLA) to support full approval of the drug in the US in the fourth quarter of 2020, and is also on track to file for regulatory clearance in Europe in the first half of next year.

“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,” said Daniel O’Day, Gilead’s chairman and chief executive.

“We look forward to welcoming the talented Immunomedics team to Gilead so we can continue to advance this important new medicine for the benefit of patients with cancer worldwide.”

“By working with Gilead, we have the opportunity to accelerate our progress and improve care for patients in need of new therapies,” added Behzad Aghazadeh, executive chairman of Immunomedics.

By: Selina McKee

Source: Pharma Times

comments closed

Related News

June 24, 2022

Echosens and Novo Nordisk announce partnership to increase awareness and advance early diagnosis of NASH

Life sciences

Echosens, a high-technology company offering liver diagnostic solutions, and Novo Nordisk A/S, a leading global healthcare company, announced a partnership to advance early diagnosis of non-alcoholic steatohepatitis (NASH) and increase awareness of the disease among patients, healthcare providers and other stakeholders.

June 24, 2022

argenx receives positive CHMP opinion for Efgartigimod for the treatment of adult patients with Generalized Myasthenia Gravis in Europe

Life sciences

Positive opinion based on Phase 3 ADAPT trial showing efgartigimod provided clinically meaningful improvements in strength and quality of life measures. If approved, efgartigimod will be the first neonatal Fc receptor (FcRn) blocker for the treatment of adults in Europe living with rare neuromuscular disease generalized myasthenia gravis (gMG).

June 24, 2022

Galapagos finally takes M&A plunge, spending $251M for 2 biotechs in CAR-T push

Life sciences

Galapagos CEO Paul Stoffels, M.D., has finally taken the plunge on M&A. The newly minted chief executive has signed not one but two deals in an attempt to right the ship, bringing two small biotechs aboard for a combined 239 million euros ($251.4 million).