Gilead pads out its antiviral portfolio with more acquisitions

19 July 2019

Gilead Sciences (Nasdaq: GILD) today announced today that it has licensed three pre-clinical antiviral programs, including investigational agents with the potential to treat human rhinovirus, influenza and herpes viruses, from Swiss pharma giant Novartis (NOVN: VX).

Both companies saw their share prices move higher, with Gilead up 1.03% at $67.90 pre-market and Novartis gaining 0.87% to 93.26 Swiss francs by 14.58 CEST.

Under the agreement, Gilead will acquire exclusive global rights to develop and commercialize novel small molecules against three undisclosed targets. Novartis will receive an undisclosed upfront payment and is eligible to receive up to an additional $291 million in potential milestone payments upon achievement of certain development and commercial milestones, as well as royalties on annual net sales.

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