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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Even as magrolimab stumbled, the company remains optimistic about the rest of its pipeline, from potential pipeline-in-a-pill Trodelvy to an oral COVID-19 drug.
At the J.P. Morgan meeting, the company said its business development priorities have not changed, but it plans to prioritize licensing and small acquisitions rather than big ticket deals in 2022.
Gilead is licensing two anti-TIGIT candidates and a pair of adenosine pathway-targeted drugs. The firms will study various IO combo regimens, possibly including Gilead drugs like Trodelvy.