Gilead Sciences, Inc. (GILD) will acquire Immunomedics (IMMU) and the parties have entered into a definitive agreement, saying Gilead will pay $88.00 per share in cash. The transaction values Immunomedics at approximately $21 billion, approved by both the Gilead and Immunomedics Boards, and they anticipate closure in Q4 2020.
The agreement will provide Gilead with Trodelvy (sacituzumab govitecan-hziy) which is a first-in-class Trop-2 directed antibody-drug conjugate ((ADC)). The drug has been granted accelerated approval by the U.S. Food and Drug Administration ((FDA)) in April for triple-negative breast cancer. Immunomedics wants to