Gilead Sciences, Inc. (GILD) and CymaBay Therapeutics, Inc. (CBAY) announced a definitive agreement under which Gilead will acquire CymaBay, a clinical-stage biopharmaceutical company, for $32.50 per share in cash or a total equity value of $4.3 billion. Gilead Sciences expects the acquisition will be approximately neutral to earnings per share in 2025 and significantly accretive thereafter.
Gilead said the addition of CymaBay's investigational lead product candidate, seladelpar for the treatment of primary biliary cholangitis including pruritus, complements the company's existing liver portfolio. The FDA has completed its filing review and accepted a New Drug Application for seladelpar and granted priority review with a Prescription Drug User Fee Act target action date of August 14, 2024.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.