On Thursday, Gilead Sciences announced a deal to acquire German biotechnology firm MYR. Gilead agreed to pay $1.4 billion for the company upon closing. Then, there is potential for an additional $350 million payment, depending on the achievement of certain milestones.
Through the acquisition, Gilead gains access to Hepcludex, a breakthrough treatment for chronic HDV infection. So far, the drug has gained limited approval for usage by the FDA in the United States and by the EMA in Europe.
In a statement, Dmitry Popov, CEO of MYR said, “We are excited to join Gilead, whose experience in the hepatitis field and global infrastructure will realize the full potential of Hepcludex and provide access to as many patients as possible around the world with this debilitating disease.”