Gilead Sciences (GILD) is nearing a deal to buy biotech Immunomedics Inc for more than $20 billion, says the Wall Street Journal, which cites people familiar with the matter.Immunomedics (IMMU) currently has a market value of just $9.77B, which means that GILD would be paying a significant premium in order to obtain IMMU’s key breast-cancer drug, Trodelvy. Shares in IMMU have already doubled year-to-date, with a 37% leap over the last three months.In August, Immunomedics reported that Trodelvy generated $20.1M in its first two months on the market. Furthermore, market research conducted by the company showed that >80% of oncologists …read more
Source:: Yahoo Finance
