Gilead Sciences Inc.
Gilead Sciences Completes Acquisition of CymaBay Therapeutics
Summary
On March 22, 2024, Gilead Sciences, Inc. completed the acquisition of CymaBay Therapeutics, Inc. for approximately $4.3 billion in total equity value. This acquisition is expected to enhance Gilead's portfolio with the investigational drug seladelpar for primary biliary cholangitis. The deal, which was previously disclosed, involved a tender offer followed by a merger, with Gilead paying $32.50 per share for CymaBay's outstanding shares, excluding those owned by Gilead or its subsidiaries, those held by CymaBay, shares already accepted by Gilead, and shares subject to appraisal rights. The transaction is expected to reduce Gilead's 2024 EPS by approximately $3.10 - $3.20 on a GAAP basis and $3.35 - $3.45 on a non-GAAP basis.
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About Gilead Sciences Inc.
Gilead Sciences Inc. is a biopharmaceutical company that focuses on researching, developing, and commercializing innovative medicines in areas of unmet medical need. It is globally recognized for its distinguished work, particularly in the treatment of HIV, liver diseases such as hepatitis B and C, and various forms of cancer. The company's portfolio includes groundbreaking antiviral therapies and a robust pipeline of investigational drugs. Headquartered in Foster City, California, Gilead Sciences Inc. significantly contributes to the healthcare sector by extending the lives of patients with serious illnesses worldwide. Through strategic partnerships and continuous innovation, Gilead remains at the forefront of modern medicine, enhancing its role in the global pharmaceutical market.
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