Gilead buying German biotech
US biotech major Gilead Sciences (Nasdaq: GLD) seems to have an insatiable appetite for M&A this year, as it notches up a fifth acquisition deal today.
Gilead announced that it has reached a definite agreement to acquire MYR GmbH, a privately-held German biotechnology company focused on the development and commercialization of therapeutics for the treatment of chronic hepatitis delta virus (HDV).
Under the terms of the deal, Gilead will acquire MYR for around 1.15 billion euros ($1.39 billion) in cash, payable on closing of the transaction plus a potential future milestone payment of up to 300 million euros (both payments subject to customary adjustments).
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