Gilead Sciences to Acquire MYR GmbH for €1.15 Billion Cash | Financial Buzz

Gilead Sciences to Acquire MYR GmbH for €1.15 Billion Cash

Gilead Sciences, Inc. (NASDAQ: GILD) and MYR GmbH have entered into a definitive agreement where Gilead will acquire MYR for €1.15 Billion cash which is payable on closing of the deal which includes a possible future milestone payment of up to €300 Million.  This will allow Gilead access to Hepcludex, which is used to treat chronic HDV infection in adulted with compensated liver disease.  MYR has launched Hepcludex in Germany, France and Austria.  It continues to plan launches in other markets throughout 2021 and this transaction will aid in pushing the process faster.  HDX is the most severe form of viral hepatitis and has mortality rates as high as 50% within 5 years in cirrhotic patients. 

“HDV is a devastating disease with high unmet medical need. With Hepcludex we have the opportunity to address that need with a first-in-class therapy,” said Daniel O’Day, Chairman and Chief Executive Officer, Gilead Sciences. “We look forward to working with the team at MYR to realize the full potential of Hepcludex for patients with HDV worldwide. This will build on the work that Gilead has been doing for almost two decades to innovate and improve therapies for viral hepatitis.”

“We are proud of our achievement in bringing Hepcludex from preclinical stage to patients in need within such a short timeframe,” said Dmitry Popov, Chief Executive Officer, MYR GmbH. “We are excited to join Gilead, whose experience in the hepatitis field and global infrastructure will realize the full potential of Hepcludex and provide access to as many patients as possible around the world with this debilitating disease.”