Gilead to buy East Coast breast cancer-focused biotech in $21 billion deal
Peninsula biotech giant Gilead Sciences, Inc. has continued to bolster its cancer drug portfolio, this time with a huge purchase of a New Jersey breast cancer drugmaker.
Foster City-based Gilead (NASDAQ: GILD) announced Sunday that it and Immunomedics (NASDAQ: IMMU) had entered into an all-cash agreement where Gilead would acquire the East Coast biotech for $88 per share. The transaction, which values Immunomedics at approximately $21 billion and was unanimously a pproved by both Gilead and Immunomedics'…
Source: bizjournals.com Health Care:Pharmaceuticals headlines - Category: Pharmaceuticals Authors: Ted Andersen Source Type: news
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