Gilead Bolsters Cancer Portfolio with $21 Billion Immunomedics Buy, an Industrial Info Market Brief

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While the quest for a COVID-19 vaccine garners the most attention in the news, there are obviously a plethora of other conditions that require treatment. Near the top of desired therapeutics are oncology (cancer) drugs. Biotech Gilead recently signed a $21 billion deal to purchase breast cancer drug developer Immunomedics Incorporated.

Based in New Jersey, Immunomedics manufactures Trodelvy, a drug that received an accelerated approval in April by the U.S. Food and Drug Administration (FDA). It is used in to treat adult patients with metastatic triple-negative breast cancer who have received two prior therapies.

The company is advancing studies for the drug's use to treat other types of cancers. In addition to Trodelvy, Immunomedics has two other promising treatments in preclinical studies: IMMU-130 for colorectal cancer and IMMU-140 for hematological (blood) cancers.

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