Pharmaceutical company Gilead buys CymaBay for $4.3 billion – Kommersant
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Today, February 12, the American pharmaceutical company Gilead announced on the purchase of CymaBay, a manufacturer of a drug for the treatment of chronic liver diseases. The deal will be valued at $4.3 billion. Gilead will pay $32.50 per CymaBay share in cash, representing a premium of 26.5% to last Friday’s share price.
The purchase will give Gilead access to a new drug developed by CymaBay to treat cholangitis and other chronic liver diseases. In December, CymaBay submitted an application to the US Food and Drug Administration to begin marketing the drug. The regulator is due to announce a decision on August 14.
In the past few years, pharmaceutical companies have been actively acquiring manufacturers of experimental drugs, including at a time when their own patents on many popular drugs are expiring. So, Pfizer in March last year bought biotech company Seagen for $43 billion, and Merck in April acquired biotech startup Prometheus Biosciences for $10.8 billion.
How much did the purchase of the pharmaceutical company Catalent cost the owner of Novo Nordisk, read in Kommersant news.
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