LONDON: Gilead Sciences Inc is nearing a deal to buy biopharmaceutical company Immunomedics Inc for more than US$20 billion in a deal that would further expand Gilead's portfolio of cancer treatments, the Wall Street Journal reported on Saturday .
A deal for Immunomedics, whose cancer therapy Trodelvy is FDA-approved as a third-line treatment for an aggressive type of breast cancer called Metastatic Triple-Negative Breast Cancer, could be announced Monday if not sooner, the Journal said, citing people familiar with the matter.Discussions between Gilead and Immunomedics were initially centered around a partnership before shifting to a full-fledged takeover negotiation, the Journal added.
An acquisition of Immunomedics would add to several deals Gilead inked this year with the aim of expanding its oncology portfolio.It bought a 49.9 per cent stake in cancer drug developer Pionyr Immunotherapeutics in June for US$275 million, just months after paying US$4.9 billion for Forty Seven Inc, maker of an experimental treatment that targets blood cancer.
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