Gilead Sciences Inc. (NASDAQ: GILD) is gearing up to purchase drug innovator Immunomedics Inc. (NASDAQ: IMMU) for a price tag exceeding $20 billion.Per the Wall Street Journal, Immunomedics — a biotech known for breast-cancer treatment Trodelvy — was initially a partner of Gilead before takeover talks began. Terms are expected to be announced Monday. Immunomedics, whose valuation hovers $10 billion, is just the latest in a series of deals Gilead made in 2020.In June, Foster City, California-based Gilead acquired a 49.9% stake in cancer drug developer Pionyr Immunotherapeutics for $275 million. Before that, it spent $4.9 billion for Forty Seven …read more
Source:: Yahoo Finance
