Gilead Sciences plans to acquire immunology biotech firm, providing financial support to Galapagos[original content]. Readout newsletter says Gilead to acquire immunologic biotech, Merck to partner with leader in IBD targets[original content]. Gilead Sciences has previously acquired Immunomedics for approximately $21 billion in cash, offering shareholders $88 per share versus the previous price of $42.25, a premium of over 100%[1][3][5]. The transaction is expected to close in the last quarter of 2020[1]. Immunomedics makes the breast cancer drug Trodelvy, which was approved by the FDA in April[1]. Gilead CEO Daniel O'Day called this acquisition a key step toward a diversified portfolio of oncology drugs[1]. Gilead continues to expand in oncology, such as the $7.8 billion purchase of Arcellx for the multiple myeloma cell therapy anito-cel[2][4]. This product should bring in 800 million USD in sales in 2026 and up to 4 billion USD per year in the long term[2].