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 is presenting overall survival data in HR+/HER2- breast cancer from the TROPiCS-02 at ESMO. Oncology clinical development head Bill Grossman talked with Scrip about how it differs from rival Enhertu.
Deal Snapshot: Through subsidiary Immunomedics, Gilead will pay $280m up front to gain the remaining global rights to the drug, at a time when Everest’s business model has encountered some difficulties in China.
Analysts said that while the Phase III survival data could lead to Trodelvy’s FDA approval, it still could face competitive headwinds from AstraZeneca/Daiichi Sankyo’s Enhertu.