News brief­ing: Gilead com­pletes $21B buy­out of Im­munomedics; In­nate re­ceives $50M mile­stone pay­ment from As­traZeneca

Gilead’s $21 bil­lion mega-ac­qui­si­tion of Im­munomedics is now of­fi­cial­ly com­plete, the com­pa­nies an­nounced Fri­day morn­ing.

The full merg­er process took a lit­tle over a month, with Gilead and Im­munomedics sign­ing an agree­ment on Sept. 13. Gilead ac­quired all out­stand­ing stock of Im­munomedics for $88 per share, a 108% pre­mi­um on the pre­vi­ous day’s clos­ing price.

Gilead’s big prize was Trodelvy, ap­proved in Ju­ly for the treat­ment of metasta­t­ic triple-neg­a­tive breast can­cer. The drug al­so im­pressed at last month’s ES­MO con­fer­ence, re­duc­ing the risk of death by 52% in a Phase III study.

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