1. Gilead Reaches $21 Billion Deal for Immunomedics

    Gilead Reaches $21 Billion Deal for Immunomedics

    Gilead Sciences Inc. will pay $21 billion to buy biotech Immunomedics Inc. and its prized breast-cancer drug, the company said Sunday, a sign of the value of the cancer-drugs business. Immunomedics has a market value of roughly $10 billion following a recent surge in its stock, meaning that Gilead is paying up to secure ownership of the company. Gilead agreed to pay $88 a share in cash for Immunomedics, whose shares closed at $42.25 Friday. That represents a 108% premium...

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    1. Though Gilead is paying a big premium.
    2. We have done more than 13 deals in oncology over the past two years.
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