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Gilead nears $20B-plus deal to buy Immunomedics

September 12, 2020

Gilead Sciences (NASDAQ:GILD) is close to a deal to buy Immunomedics (NASDAQ:IMMU) and its prized Trodelvy breast cancer drug for more than $20B, with an announcement expected by Monday or sooner, WSJ reports.

The acquisition would come at a hefty premium, even after a recent surge in its stock has lifted Immunomedics’ market value to ~$10B.

In April, Trodelvy was approved in the U.S. to treat triple-negative breast cancer, an aggressive form of the disease that has spread to other parts of the body.

Trodelvy has shown signs of success in treating lung and other cancers too, and Immunomedics is expected to present data on the drug’s performance against bladder cancer at a medical conference this coming week.

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