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Today: March 02, 2024

Drugmaker Gilead to acquire CymaBay for $4.3 billion

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Drugmaker Gilead to acquire CymaBay for $4.3 billion
Reuters
Reuters
February 12, 2024

(Reuters) - Gilead Sciences on Monday said it will acquire CymaBay Therapeutics for $4.3 billion, to expand its portfolio of liver disease drugs.

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.

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

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

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