Investing
Drugmaker Gilead to acquire CymaBay for $4.3 billion
© Reuters. FILE PHOTO: Gilead Sciences is seen in Oceanside, California, U.S., April 29, 2020. REUTERS/Mike Blake/File Photo
(Reuters) – Gilead Sciences (NASDAQ:) on Monday said it will acquire CymaBay Therapeutics (NASDAQ:) for $4.3 billion, to expand its portfolio of liver disease drugs.
The deal will give Gilead access to CymaBay’s lead drug candidate called seladelpar for the treatment of primary biliary cholangitis, a type of chronic inflammatory liver disease.
CymaBay had submitted a marketing application to the U.S. Food and Drug Administration (FDA) for the drug in December.
Shares of CymaBay were halted ahead of the announcement in premarket hours.
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