Advertisement
U.S. markets close in 3 hours 48 minutes
  • S&P 500

    5,065.89
    +84.09 (+1.69%)
     
  • Dow 30

    38,882.91
    +270.67 (+0.70%)
     
  • Nasdaq

    15,964.38
    +383.52 (+2.46%)
     
  • Russell 2000

    2,009.53
    +14.79 (+0.74%)
     
  • Crude Oil

    78.81
    +0.90 (+1.16%)
     
  • Gold

    2,031.10
    -3.20 (-0.16%)
     
  • Silver

    22.79
    -0.08 (-0.37%)
     
  • EUR/USD

    1.0817
    -0.0006 (-0.05%)
     
  • 10-Yr Bond

    4.3310
    +0.0060 (+0.14%)
     
  • GBP/USD

    1.2642
    +0.0004 (+0.03%)
     
  • USD/JPY

    150.6650
    +0.3570 (+0.24%)
     
  • Bitcoin USD

    51,460.21
    +153.91 (+0.30%)
     
  • CMC Crypto 200

    885.54
    0.00 (0.00%)
     
  • FTSE 100

    7,684.49
    +21.98 (+0.29%)
     
  • Nikkei 225

    39,098.68
    +836.52 (+2.19%)
     

UPDATE 2-Drugmaker Gilead to acquire CymaBay for $4.3 bln

(Adds details on premium in paragraph 3)

Feb 12 (Reuters) - U.S. drugmaker Gilead Sciences agreed to acquire CymaBay Therapeutics for $4.3 billion on Monday, adding a treatment for chronic liver disease to its portfolio.

Shares of CymaBay were halted ahead of the announcement in premarket hours.

Gilead will pay $32.50 in cash for each share of CymaBay for the drug developer, representing a premium of 26.5% to Friday's close.

The deal will give Gilead access to CymaBay's lead drug candidate called seladelpar for the treatment of primary biliary cholangitis, a type of chronic inflammatory liver disease.

CymaBay had submitted a marketing application to the U.S. Food and Drug Administration (FDA) for the drug in December.

The U.S. health regulator has assigned an action date of August 14 to decide on the use of the drug.

If approved, the drug is expected to enhance Gilead's revenue growth, the drugmaker said.

The deal, which is expected to close in the first quarter, will be neutral to Gilead's earnings in 2025.

(Reporting by Bhanvi Satija in Bengaluru; Editing by Krishna Chandra Eluri)

Advertisement