Davis Polk, Wachtell Build Gilead’s $21B Immunomedics Buy
Law360 (September 13, 2020, 5:40 PM EDT) — Gilead Sciences, led by Davis Polk, will pay $21 billion for Wachtell Lipton-advised drug development firm Immunomedics, the companies said Sunday, in a deal that represents at least the fourth major acquisition by Gilead since the start of the pandemic.
The transaction provides Foster City, California-based Gilead Sciences Inc. with a Morris Plains, New Jersey-headquartered drugmaker that makes treatments for multiple types of cancers, including breast and bladder, according to a statement. Immunomedics has multiple drugs that are in clinical trials and either have received or are awaiting approvals from regulators, in both the U.S. and Europe.
“This acquisition represents significant…