Deals

Gilead to Buy Liver Drugmaker for $4.3 Billion Equity Value

The Gilead headquarters in Foster City, California, US, on Monday, Jan. 29, 2024. Gilead Sciences Inc. is scheduled to release earnings figures on February 6.Photographer: David Paul Morris/Bloomberg

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By Robert Langreth

February 12, 2024 at 1:31 PM UTC

Updated on

February 12, 2024 at 3:18 PM UTC

This article is for subscribers only.

Gilead Sciences Inc. agreed to purchase CymaBay Therapeutics Inc., a developer of an experimental liver disease drug, for $4.3 billion in equity value.

Gilead offered to purchase all outstanding shares of CymaBay for $32.50 a share, according to a statement Monday, a 27% premium to Friday’s close for the Newark, California-based biotech.