(Bloomberg Opinion) — Gilead Pharmaceuticals Inc. has faced the same problem for years: The drugmaker has a strong core business in its world-leading HIV franchise, but it hasn’t been able to consistently grow beyond that base the way it should. Against that backdrop, you’d think a more aggressive M&A strategy would be cause for celebration. The devil, as always, is in the details.Gilead’s $21 billion purchase of New Jersey-based biotechnology firm Immunomedics Inc. and its promising breast cancer drug Trodelvy, announced Sunday afternoon, certainly qualifies as a bold move. At $88 a share, the acquisition represents a more than 100% …read more
Source:: Yahoo Finance
