Gilead Sciences Completes Acquisition of MYR GmbH
Gilead Sciences has successfully completed its acquisition of MYR GmbH for approximately €1.45 billion. This strategic move enhances Gilead's portfolio with Hepcludex® (bulevirtide), a treatment for chronic hepatitis delta virus (HDV), conditionally approved by the European Medicines Agency in July 2020. Gilead aims to leverage its extensive experience in viral hepatitis to maximize Hepcludex's potential globally. MYR is now a wholly owned subsidiary of Gilead, although Hepcludex's safety and efficacy are still unestablished in markets outside of Europe.
- Acquisition strengthens Gilead's portfolio with Hepcludex for treating HDV.
- The deal addresses a significant unmet medical need in hepatitis treatment.
- Gilead's experience in viral hepatitis may enhance Hepcludex's market performance.
- Hepcludex's safety and efficacy are not yet established in the U.S. or other regions.
- Integration challenges and potential unforeseen expenses may arise from the acquisition.
- Regulatory approval risks could affect Hepcludex's commercialization timeline.
Gilead Sciences, Inc. (Nasdaq: GILD) today announced the completion of the previously announced transaction to acquire MYR GmbH for up to approximately
“Hepcludex is an important new addition to the Gilead portfolio. With this first-in-class therapy for HDV, the most severe form of viral hepatitis, we have the opportunity to address an area of high unmet medical need,” said Daniel O’Day, Chairman and Chief Executive Officer, Gilead Sciences. “Gilead has nearly 20 years of experience in innovating and improving therapies for viral hepatitis. We can now build on that with Hepcludex, working with the MYR team to realize the full potential of the therapy for people with HDV worldwide.”
As a result of the completion of the merger, MYR has become a wholly owned subsidiary of Gilead. Hepcludex is an investigational agent, and its safety and efficacy have not been established in the U.S. or in other regions where it has not received regulatory approval. Hepcludex, Gilead and the Gilead logo are trademarks of Gilead Sciences, Inc. or its related companies.
About Gilead Sciences
Gilead Sciences, Inc. is a biopharmaceutical company that has pursued and achieved breakthroughs in medicine for more than three decades, with the goal of creating a healthier world for all people. The company is committed to advancing innovative medicines to prevent and treat life-threatening diseases, including HIV, viral hepatitis and cancer. Gilead operates in more than 35 countries worldwide, with headquarters in Foster City, California.
Forward-Looking Statements
This press release includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 that are subject to risks, uncertainties and other factors, including difficulties or unanticipated expenses in connection with integrating the companies, including the effects of the transaction on relationships with employees, other business partners or governmental entities; Gilead’s ability to realize the potential benefits of this transaction; Gilead’s ability to advance its product pipeline or successfully commercialize its products, including Hepcludex; Gilead’s ability to initiate, progress or complete clinical trials within currently anticipated timelines or at all including those involving bulevirtide; the possibility of unfavorable results from ongoing or additional trials, including those involving bulevirtide; Gilead’s ability to submit new drug applications for new product candidates in the currently anticipated timelines; Gilead’s ability to receive regulatory approvals in a timely manner or at all, including U.S. Food and Drug Administration approval of bulevirtide, and the risk that any such approvals may be subject to significant limitations on use; any assumptions underlying any of the foregoing; and other risks and uncertainties detailed from time to time in Gilead’s periodic reports filed with the U.S. Securities and Exchange Commission, including current reports on Form 8-K, quarterly reports on Form 10-Q and annual reports on Form 10-K. These risks, uncertainties and other factors could cause actual results to differ materially from those referred to in the forward-looking statements. All statements other than statements of historical fact are statements that could be deemed forward-looking statements. Investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties and are cautioned not to place undue reliance on these forward-looking statements. All forward-looking statements are based on information currently available to Gilead, and Gilead assumes no obligation and disclaims any intent to update any such forward-looking statements.
For more information on Gilead Sciences, please visit the company’s website at www.gilead.com, follow Gilead on Twitter (@GileadSciences) or call Gilead Public Affairs at 1-800-GILEAD-5 or 1-650-574-3000.
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