---
title: "Gilead in Advanced Talks for Immunomedics, Bid More Than $20 Billion"
description: "Gilead Sciences Inc. will acquire Immunomedics Inc. for about $21 billion cash to add breast-cancer treatments, the companies said in a statement."
type: "NewsArticle"
publisher: "Daily Maverick"
site: "https://www.dailymaverick.co.za"
section: "Business Maverick"
author: "Bloomberg"
author_url: "https://www.dailymaverick.co.za/author/bloomberg/"
canonical_url: "https://www.dailymaverick.co.za/article/2020-09-13-gilead-in-advanced-talks-for-immunomedics-bid-more-than-20-billion/"
published: "2020-09-13T21:29:27"
updated: "2020-09-13T21:29:43"
lang: "en-ZA"
word_count: 164
---

# Gilead in Advanced Talks for Immunomedics, Bid More Than $20 Billion

> Gilead Sciences Inc. will acquire Immunomedics Inc. for about $21 billion cash to add breast-cancer treatments, the companies said in a statement.

By Bloomberg · Published 13 September 2020, 23:29 SAST · Updated 13 September 2020, 23:29 SAST

## Content

Foster City, California-based Gilead would value Immunomedics at more than twice as much as what the maker of the Trodelvy breast-cancer drug was valued at on Friday.Pharmaceutical companies have been coveting Immunomedics since the Food and Drug Administration unexpectedly accelerated approval for Trodelvy in April, after a study showed the drug beat back triple negative breast cancer for almost four months longer than chemotherapy in patients getting the medication as a third line of therapy. The hard-to-treat disease doesn’t respond to many of the current treatment regimens. Immunomedics plans to file for full approval of the medicine later this year.

Morris Plains, New Jersey-based Immunomedics has a market capitalization of $9.8 billion after the shares almost doubled this year. Gilead was valued at $82.2 billion as of Friday. Its shares were little changed in the year-to-date.

“This acquisition represents significant progress in Gilead’s work to build a strong and diverse oncology portfolio,” Daniel O’Day, Gilead’s chairman and chief executive officer, said in the statement.