Gilead Sciences CEO Daniel O’Day has spoken openly about acquisitions as a way to build up the company’s drug pipeline. This week, it made its biggest buy yet.
The $21 billion Immunomedics acquisition brings to Gilead a cancer drug that many analysts project will become a blockbuster seller. Some of those analysts think Gilead might have overpaid but the company says there were competing offers. The drug, sacitizumab govitecan (Trodelvy), is what’s called an antibody drug conjugate (ADC). This drug class has seen a lift in recent years. Four years ago, there were just three FDA-approved ADCs. The FDA has approved… Read more »
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