High takeout premium in $21B deal shows Gilead’s confidence in value of Immunomedics’ ADC
Gilead’s largest takeout ever adds to a string of cancer deals in 2020
Gilead’s largest takeout ever adds to a string of cancer deals in 2020.
For Gilead to derive value commensurate with the $21 billion it will pay to buy Immunomedics at more than double the biotech’s market cap, its first-in-class antibody-drug conjugate Trodelvy will have to gain approval and capture market share in indications beyond the one for which it has gained initial approval.
In its latest and largest in a series of cancer deals this year,