Gilead Sciences, Inc. is bolstering its strength in liver disease by going outside of viral hepatology with a $4.3bn agreement to acquire CymaBay Therapeutics, Inc. and its Phase III candidate for second-line primary biliary cholangitis (PBC) seladelpar. The deal was announced before the markets opened on 12 February, with Gilead stating that both companies’ boards had approved the $32.50-per-share offer and predicting that the transaction would close before the end of Q1.
Gilead Offers Up $4.3bn For CymaBay And Phase III PBC Candidate
Adding to its liver disease portfolio, Gilead agreed to pay a 27% premium for CymaBay and seladelpar, which has a 14 August FDA action date to compete in second-line primary biliary cholangitis.
