Gilead Sciences Completes Acquisition of MYR GmbH
March 04 2021 - 8:39AM
Business Wire
Gilead Sciences, Inc. (Nasdaq: GILD) today announced the
completion of the previously announced transaction to acquire MYR
GmbH for up to approximately €1.45 billion in aggregate cash
consideration. The acquisition provides Gilead with Hepcludex®
(bulevirtide), which was conditionally approved by the European
Medicines Agency for the treatment of chronic hepatitis delta virus
(HDV) in adults with compensated liver disease in July 2020.
“Hepcludex is an important new addition to the Gilead portfolio.
With this first-in-class therapy for HDV, the most severe form of
viral hepatitis, we have the opportunity to address an area of high
unmet medical need,” said Daniel O’Day, Chairman and Chief
Executive Officer, Gilead Sciences. “Gilead has nearly 20 years of
experience in innovating and improving therapies for viral
hepatitis. We can now build on that with Hepcludex, working with
the MYR team to realize the full potential of the therapy for
people with HDV worldwide.”
As a result of the completion of the merger, MYR has become a
wholly owned subsidiary of Gilead. Hepcludex is an investigational
agent, and its safety and efficacy have not been established in the
U.S. or in other regions where it has not received regulatory
approval. Hepcludex, Gilead and the Gilead logo are trademarks of
Gilead Sciences, Inc. or its related companies.
About Gilead Sciences
Gilead Sciences, Inc. is a biopharmaceutical company that has
pursued and achieved breakthroughs in medicine for more than three
decades, with the goal of creating a healthier world for all
people. The company is committed to advancing innovative medicines
to prevent and treat life-threatening diseases, including HIV,
viral hepatitis and cancer. Gilead operates in more than 35
countries worldwide, with headquarters in Foster City,
California.
Forward-Looking
Statements
This press release includes forward-looking statements within
the meaning of the Private Securities Litigation Reform Act of 1995
that are subject to risks, uncertainties and other factors,
including difficulties or unanticipated expenses in connection with
integrating the companies, including the effects of the transaction
on relationships with employees, other business partners or
governmental entities; Gilead’s ability to realize the potential
benefits of this transaction; Gilead’s ability to advance its
product pipeline or successfully commercialize its products,
including Hepcludex; Gilead’s ability to initiate, progress or
complete clinical trials within currently anticipated timelines or
at all including those involving bulevirtide; the possibility of
unfavorable results from ongoing or additional trials, including
those involving bulevirtide; Gilead’s ability to submit new drug
applications for new product candidates in the currently
anticipated timelines; Gilead’s ability to receive regulatory
approvals in a timely manner or at all, including U.S. Food and
Drug Administration approval of bulevirtide, and the risk that any
such approvals may be subject to significant limitations on use;
any assumptions underlying any of the foregoing; and other risks
and uncertainties detailed from time to time in Gilead’s periodic
reports filed with the U.S. Securities and Exchange Commission,
including current reports on Form 8-K, quarterly reports on Form
10-Q and annual reports on Form 10-K. These risks, uncertainties
and other factors could cause actual results to differ materially
from those referred to in the forward-looking statements. All
statements other than statements of historical fact are statements
that could be deemed forward-looking statements. Investors are
cautioned that any such forward-looking statements are not
guarantees of future performance and involve risks and
uncertainties and are cautioned not to place undue reliance on
these forward-looking statements. All forward-looking statements
are based on information currently available to Gilead, and Gilead
assumes no obligation and disclaims any intent to update any such
forward-looking statements.
For more information on Gilead Sciences, please
visit the company’s website at www.gilead.com, follow Gilead on
Twitter (@GileadSciences) or call Gilead Public Affairs at
1-800-GILEAD-5 or 1-650-574-3000.
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version on businesswire.com: https://www.businesswire.com/news/home/20210304005609/en/
Jacquie Ross, Investors (408) 656-8793
Marni Kottle, Media (650) 522-5388
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