Gilead Expands Immuno-Oncology Pipeline with $21 Billion Immunomedics Acquisition

Gilead Sciences has announced that it will spend $21 billion to acquire New Jersey drugmaker Immunomedics as part of its ongoing expansion into immune-oncology treatments.

The acquisition gives Gilead control of Immunomedics’ Trodelvy (sacituzumab govitecan-hziy), which earned accelerated approval from the FDA in April for the treatment of metastatic triple-negative breast cancer.

The agency previously granted the drug Priority Review, Breakthrough Therapy and Fast-Track designations. Immunomedics is expected to file for approval of Trodelvy in Europe next year.

The acquisition will be funded with $15 billion in cash and approximately $6 billion in newly issued debt.