Gilead Buys Pipeline-In-A-Product With $21bn Immunomedics Deal
Acquisition Gives The Big Biotech Its First Approved Solid Tumor Drug
The company paid twice Immunomedics’ last closing stock price to access Trodelvy, approved for triple-negative breast cancer with potential in other solid tumors as monotherapy and in combinations.
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The company laid out a three-pronged strategy focused on immuno-oncology, antibody-drug conjugates as well as small molecules, with four programs set to enter pivotal trials this year.
Two weeks after obtaining its third cancer indication and the same day Kite CEO Christi Shaw’s departure was announced, Gilead’s antibody-drug conjugate yielded Phase II data it says will help toward full approval in urothelial cancer.
Even with top-seller Biktarvy and its preventive therapy, Descovy, protected beyond this decade from generics, Gilead is investing aggressively in long-acting HIV candidates and its oncology pipeline.