YM BioSciences

Gilead Sciences to Acquire YM BioSciences

The pharmaceutical packaging and development company’s acquisition adds to its oncology and inflammation treatment pipeline.

Gilead Sciences, Inc. and YM BioSciences Inc. announced today that the companies have signed a definitive agreement under which Gilead will acquire YM for U.S.$2.95 per share in cash. The transaction has received the unanimous approval of YM’s Board of Directors, and values YM at approximately U.S.$510 million, with YM reporting C$125.5 million in cash and cash equivalents as of September 30, 2012. Gilead plans to fund the acquisition with cash on hand. The transaction is expected to close in the first quarter of 2013.

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