Gilead to Purchase Liver Drugmaker for $4.3 Billion Equity.

PHARMACEUTICAL industry; LIVER; STOCK prices; BILE ducts; HEPATITIS C

Gilead Sciences Inc. has announced its plans to acquire CymaBay Therapeutics Inc., a company that is developing an experimental liver disease drug, for $4.3 billion. The drug, seladelpar, is intended to treat a rare bile duct disorder that primarily affects women and has received priority review from US regulators. Gilead, known for its antiviral drugs for hepatitis C, is seeking new areas for growth. This acquisition is Gilead's largest since its purchase of Immunomedics for $21 billion in 2020. [Extracted from the article]

Copyright of Bloomberg.com is the property of Bloomberg, L.P. and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)