4:17 a.m. Dec. 10, 2020
- By Ciara Linnane
Gilead to acquire Germany's MYR GmbH for EUR1.15 billion in cash Gilead Sciences Inc. said Thursday it has agreed to acquire MYR GmbH, a German biotech, for 1.15 billion euros ($1.39 billion) in cash, plus a potential future milestone payment of up to 300 million euros. The milestone payment will be made upon FDA approval of MYR's hepcludex, a treatment for chronic HDV infection in adults with compensated liver disease that has won conditional approval from the European Medicines Agency. HDV is the most severe form of viral hepatitis. "Hepcludex is a first-in-class treatment for HDV that blocks viral entry into liver cells through binding to NTCP," Gilead said in a statement. "It is the first and currently the only medicine conditionally approved for HDV by the EMA, and MYR anticipates submission for accelerated approval in the United States in the second half of 2021." The drug has both orphan drug and breakthrough therapy designations from the FDA. Gilead is expecting the deal to enhance revenue, be neutral to EPS in the first two years and then modestly accretive. Gilead shares were slightly higher premarket, but have fallen 6% in the year to date, while the SPDR S&P Biotech ETF has gained 44% and the S&P 500 has gained 13.7%.
7:04 a.m. Oct. 4, 2020
- By Jaimy Lee
Abbott exec: Why better COVID-19 tests may help the U.S. get back to normal John Hackett is a longtime executive at diagnostics company Abbott In less than seven months, Abbott Laboratories has introduced six COVID-19 tests, each a little different than the last, and that’s all part of the diagnostics company’s strategy to keep improving and enhancing tests that can detect current and past infections with the novel coronavirus.
12:01 p.m. Sept. 12, 2020
- By Cara Lombardo
Gilead near deal to buy Immunomedics for more than $20 billion Biotech drugmaker has a market value of roughly $10 billionGilead Sciences Inc. is nearing a deal to buy biotech Immunomedics Inc. and its prized breast-cancer drug for more than $20 billion.
12:58 a.m. Aug. 10, 2020
- By Sherri Snelling
Could flu vaccines lower your risk of Alzheimer’s? Research sheds new light Two studies released at the Alzheimer’s Association conference indicate a possible connection between flu and pneumonia shots with reducing or delaying cognitive declineThe studies show ‘vaccines are strongly associated with lower prevalence of dementia,’ says one scientist.
2:13 a.m. July 31, 2020
- By Jaimy Lee
Gilead swings to a big loss on acquisition expense, stock falls after earnings and revenue miss The drugmaker expects to produce more than 2 million courses of COVID-19 treatment remdesivir by the end of the yearShares of Gilead Sciences Inc. fell more than 1% in after-hours trading Thursday after the drugmaker reported that it swung to a large loss during the second quarter and missed estimates even after adjusting for an acquisition.
2:11 a.m. June 30, 2020
- By Jaimy Lee
Gilead’s coronavirus drug will cost $2,340 — which sounds expensive, but here’s why it’s not The drugmaker’s decision to price remdesivir below expectations could be a ‘promising sign’ of how much other COVID-19 treatments will cost, said one expertGilead Sciences Inc.’s COVID-19 drug remdesivir will cost much less than Wall Street analysts had predicted in a move that likely points to a more measured, responsible approach to the pharmaceutical pricing of treatments and vaccines during the pandemic.
10:06 a.m. June 29, 2020
- By Jaimy Lee
Race for a COVID-19 vaccine has drug makers scaling up manufacturing — before one is developed ‘People, companies are starting to plan to make doses even before, you know, the vaccine works,’ Dr. Anthony Fauci said Tuesday on Capitol HillInovio Pharmaceuticals Inc. has yet to share results from the Phase 1 trial for its COVID-19 vaccine candidate, but has already received millions of dollars in funding to scale up manufacturing capacity.
9:34 a.m. May 31, 2020
- By Quentin Fottrell
‘The 1918 Spanish flu’s second wave was even more devastating’: WHO advises caution to avoid ‘immediate second peak’ Immunizations against smallpox, measles or Hepatitis B should last a lifetime, but that has not been the case for previous coronavirusesImmunizations against smallpox, measles or Hepatitis B should last a lifetime, but that has not been the case for previous coronaviruses.
11:22 a.m. May 27, 2020
- Associated Press
AIDS activist playwright Larry Kramer is dead at 84Larry Kramer, the playwright whose angry voice and pen raised theatergoers’ consciousness about AIDS and roused thousands to militant protests in the early years of the epidemic, has died at 84.
12:11 p.m. May 26, 2020
- By Elisabeth Buchwald
The No. 1 thing Americans are spending their stimulus checks on and a staggering number of laid-off workers are receiving MORE money from unemployment benefits than when they were employed Tuesday’s top personal finance stories Tuesday’s top personal finance stories Tuesday’s top personal finance stories