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Gilead Sciences (GILD) will pay $21 billion to buy Immunomedics (IMMU) and its prized breast-cancer drug, STAT writes. The move is the pricey culmination of a move into oncology that investors have been expecting since Daniel O’Day, a longtime Roche (RHHBY) executive, took over the top job at Gilead in March 2019. Under his tenure, Gilead has done 13 oncology deals or collaborations. The Immunomedics drug, Trodelvy, was approved in April and generated $20 million in sales in its first two months on the market.

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  • May I observe that given Immunomedics somewhat checkered history with US FDA compliance issues (including around data) that Gilead is making a … “risky bet”? Of course, Gilead has it’s own issues with the Agency so “might as well be hanged for a sheep as for a lamb.”

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