Gilead Sciences Acquires CymaBay Therapeutics in $4.3 Billion Deal to Expand Liver Disease Portfolio
In a major move to enhance its array of liver disease treatments, Gilead Sciences has announced its acquisition of CymaBay Therapeutics for a staggering $4.3 billion. The deal, set to conclude in the first quarter of 2024, will see Gilead pay $32.50 per share in cash for the company.
The primary objective of this agreement is to secure access to CymaBay’s primary drug candidate, seladelpar, which holds tremendous potential for the treatment of primary biliary cholangitis (PBC), a chronic inflammatory liver disease. The seladelpar New Drug Application has been accepted by the FDA and granted priority review.
Gilead Sciences CEO, Daniel O’Day, expressed his enthusiasm for the acquisition, stating, “We are looking forward to advancing seladelpar by leveraging Gilead’s long-standing expertise in treating and curing liver diseases. Building on the strong research and development work by the CymaBay team to date, we have the potential to address a significant unmet need for people living with PBC and expand on our existing broad range of transformational therapies.”
With this strategic acquisition, Gilead plans to bolster its portfolio of liver disease treatments, further cementing its position as a leader in the field. This move aligns with Gilead’s commitment to provide effective solutions for patients suffering from liver disorders, while also diversifying its range of groundbreaking therapies.
The news of Gilead Sciences’ acquisition of CymaBay Therapeutics highlights the ever-growing importance and demand for innovative treatments for liver diseases. As the FDA continues to prioritize advancements in this area, patients living with primary biliary cholangitis can look forward to a potentially game-changing treatment option in the near future.
Analyst comment
Positive news: Gilead Sciences’ acquisition of CymaBay Therapeutics for $4.3 billion to expand its liver disease portfolio. Gilead aims to leverage its expertise in treating liver diseases and address the unmet needs of patients with primary biliary cholangitis. The acquisition strengthens Gilead’s position as a leader in the field and aligns with its commitment to innovative therapies. The news indicates the growing importance and demand for liver disease treatments, offering potential benefits to patients.
