Gilead to buy cancer drugmaker Immunomedics for US$21 bln

The deal provides Gilead access to Immunomedics' breast cancer treatment drug, Trodelvy, which was granted an accelerated FDA approval in April.

NEW YORK: Gilead Sciences Inc will acquire biopharmaceutical company Immunomedics Inc for $21 billion, a move that will strengthen its cancer portfolio by gaining access to a promising drug, the two companies said in a joint statement on Sunday.

The deal provides Gilead access to Immunomedics' breast cancer treatment drug, Trodelvy, which was granted an accelerated FDA approval in April.