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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Phase III sub-analyses presented at ESMO show the drug providing a survival benefit in a complex subpopulation, as well as improvements to quality of life.
The US firm gets development and co-commercial rights to MORAb-202 for $650m up front. BMS joins AstraZeneca, Merck & Co. and Gilead in recent ADC deal-making.
The company previously was unsuccessful securing accelerated approval based on complete response data, but event-free survival results may be more persuasive.