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“Gilead to buy CymaBay for $4.3 billion in bets on liver disease treatment”

Gilead Sciences has agreed to buy CymaBay Therapeutics for $4.3 billion, gaining access to an experimental liver disease treatment with blockbuster potential as the U.S. drugmaker looks beyond its older HIV drugs for growth.

Shares of the Newark, California-based drug developer jumped 24.6% to a record high of $32.01 in morning trading on Monday, compared to the offer price of $32.50 per share. Gilead’s shares rose 1.1% to $74.49.

Gilead will get CymaBay’s lead experimental drug, seladelpar, which is estimated to generate sales of $1.9 billion by 2029, if approved, as per LSEG data…”

https://www.cnbc.com/2024/02/12/drugmaker-gilead-to-acquire-cymabay-for-4point3-billion.html

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