(Reuters) – Gilead Sciences Inc
A deal for Immunomedics, whose most cancers remedy Trodelvy is FDA-approved as a third-line therapy for an aggressive sort of breast most cancers known as Metastatic Triple-Negative Breast Cancer, might be introduced Monday if not sooner, the Journal stated https://www.wsj.com/articles/gilead-nears-deal-to-buy-immunomedics-for-more-than-20-billion-11599936777?mod=hp_lead_pos2, citing folks aware of the matter.
Discussions between Gilead and Immunomedics have been initially centered round a partnership earlier than shifting to a full-fledged takeover negotiation, the Journal added.
Gilead and Immunomedics didn’t reply instantly to emailed requests from Reuters for remark.
Shares of Immunomedics, which final month reported optimistic information from a late-stage confirmatory research for Trodelvy, have almost doubled this 12 months, giving the corporate a valuation of shut to $10 billion.
An acquisition of Immunomedics would add to a number of offers Gilead inked this 12 months with the intention of increasing its oncology portfolio.
It purchased a 49.9% stake in most cancers drug developer Pionyr Immunotherapeutics in June for $275 million, simply months after paying $4.9 billion for Forty Seven Inc, maker of an experimental therapy that targets blood most cancers.
(Reporting by Ismail Shakil in Bengaluru; Editing by Chizu Nomiyama)
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