Gilead Sciences Inc. agreed to acquire Immunomedics Inc. for about $21 billion, a substantial premium for the maker of a promising breast-cancer therapy, and another big bet by Gilead that an innovative tumor-fighting drug can boost its fortunes.
— Gilead Sciences (@GileadSciences) September 13, 2020
Why Gilead acquired Immunomedics?
- Immunomedics Inc. develop breast-cancer treatment called Trodelvy that gained approval from the U.S.
- TRODELVY™ (sacituzumab govitecan-hziy) is indicated for the treatment of adult patients with metastatic triple-negative breast cancer (mTNBC) who have received at least 2 prior therapies for metastatic disease.
- This indication is approved under accelerated approval based on tumor response rate and duration of response. Continued approval for this indication may be contingent upon verification and description of clinical benefit in confirmatory trials.
- Immunomedics is having some early stage pipeline, but this deal largely on Trodelvy.
- Trodelvy is the first FDA-approved anti-TROP agent in April, with an initial green light in third-line metastatic triple-negative breast cancer.