Gilead shows deal appetite, taking out ‘don’t eat me’ play Forty Seven for $4.9B

After adding an asset in a potentially registrational trial, Gilead management says more deals could follow

March 2, 2020 3:56 PM UTC
Updated on Mar 3, 2020 at 1:56 AM UTC

If Gilead’s takeout of Forty Seven isn’t the transformative oncology deal some have expected under Chairman and CEO Daniel O’Day, the $4.9 billion acquisition does give the company a clinical candidate that has already begun a potentially pivotal study in myelodysplastic syndromes.

On a conference call Monday, Gilead Sciences Inc. (NASDAQ:GILD) management said the deal is squarely in line with its strategy of seeking small-to-medium-sized bolt-on acquisitions, as well as other deal types. “Clinical-stage assets like this are right in the sweet spot of the strategy,” CFO Andrew Dickinson said. “You should expect that we’ll continue to look at more transactions like this.”...

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