MYR Pharmaceuticals

History

2020: Gilead Sciences purchased MYR Pharmaceuticals

At the beginning of December, 2020 Gilead Sciences announced acquisition of the German biotechnology firm MYR Pharmaceuticals for €1.15 billion with possible surcharge at the rate to €300 million. The transaction was provided by rapid growth of stock of Gilead Sciences against the background of medicine registration remdesivir for treatment of COVID-19.

Little-known company MYR Pharmaceuticals works on the first in the class drug against a virus of chronic hepatitis D (HDV) which blocks penetration of a virus into cells of a liver through linking with NTCP. Replication of this virus requires an infection by a virus of the hepatitis B (HBV), at the same time the koinfektion of HDV-HBV is considered the most severe form of chronic viral hepatitis, according to WHO. Such disease is usually characterized by fast progressing and is fraught with development of a gepatotsellyulyarny carcinoma. The medicine developed by MYR Pharmaceuticals received the name Gepklyudeks (bulevirtid) and in 2021 should come to the markets of the USA and Europe.

Gilead Sciences purchased MYR Pharmaceuticals

After the conclusion of the transaction the MYR Pharmaceuticals command will be able to use research and commercial opportunities of Gilead Sciences for promotion of the medicine in the market. Among other things Gilead was engaged in development and sale of drugs for hepatitis C under the name Harvoni and Sovaldi which brought to the pharmaceutical company tens of billions of dollars in recent years.

HDV is the serious disabling disease which treatment is still imperfect. Emergence of Gepklyudeks in the market will help these patients, - the chairman and the head of Gilead Daniel O'Day told. - We look forward to cooperation with the MYR command which will allow us to implement completely the potential of Gepklyudeks around the world. This time we will have a basis - that work on development and improvement of methods of treatment of viral hepatitis which the Gilead company conducts for nearly two decades.[1]

Notes