Immunomedics

Immunomedics — developer of medicines and technologies for cancer therapy of a breast. The company also researches, connected with cancer therapy of a bladder, non-small cell lung cancer and other tumors.

History

2020: Gilead purchased Immunomedics for $21 billion

On September 14, 2020 Gilead announced purchase of Immunomedics for $21 billion. The cost of the transaction in terms of one stock of the sold company is $88 that is 108% more than a quotation rate to closing of the exchange on September 11.

Satisfy all terms of agreement, including get permissions of all necessary regulating authorities, it is planned in the fourth quarter 2020. The Board of Directors of both companies already approved the transaction.

Gilead will pay purchase partially at the expense of own means ($15 billion) and issue of new securities ($6 billion). Market capitalization of Immunomedics makes about $10 billion by September 14, 2020. Stocks of the company rose in price almost twice since the beginning of year.

Gilead purchased Immunomedics for $21 billion

According to the CEO of Gilead Daniel O'Deya (Daniel O'Day), merger of Immunomedics will help the company to develop different medicines for cancer therapy quicker.

It allows us to accelerate work which we spent the last several years in development of this franchize and a portfolio in the field of cancer therapy, - he told in a conversation with The Wall Street Journal.

Production of drugs against a breast cancer is one of the most profitable segments in the market of medicines for treatment of oncological diseases, the newspaper tells.

Daniel O'Dey noted that Trodelvy is the approved medicine for cancer form which it is especially difficult to treat. Now Gilead will continue to study the medicine potential for treatment of many other types of cancer, he added.

In April, 2020 U.S. authorities approved Trodelvy for treatment of a threefold negative breast cancer.^[1]

Notes