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Gilead Sciences to Buy YM BioSciences for $510 Million

Gilead Sciences Inc., the world’s biggest maker of AIDS drugs, agreed to buy YM BioSciences Inc. for $510 million to obtain the Canadian company’s research into treatments for a bone-marrow disorder.

YM BioSciences investors will receive $2.95 a share, Gilead, based in Foster City, California, said in a statement today. The all-cash deal carries an 81 percent premium over yesterday’s closing price for U.S. shares of YM BioSciences.