Gilead To Acquire CymaBay; To Enhance Revenue Growth Upon Approval Of Seladelpar

(RTTNews) - Gilead Sciences, Inc. (GILD) and CymaBay Therapeutics, Inc. (CBAY) announced a definitive agreement under which Gilead will acquire CymaBay, a clinical-stage biopharmaceutical company, for $32.50 per share in cash or a total equity value of $4.3 billion. Gilead Sciences expects the acquisition will be approximately neutral to earnings per share in 2025 and significantly accretive thereafter.

Gilead said the addition of CymaBay's investigational lead product candidate, seladelpar for the treatment of primary biliary cholangitis including pruritus, complements the company's existing liver portfolio. The FDA has completed its filing review and accepted a New Drug Application for seladelpar and granted priority review with a Prescription Drug User Fee Act target action date of August 14, 2024.

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