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Wednesday, May 18, 2022

Gilead [NASDAQ: GILD] Purchases MYR For €1.15M In Cash

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Gilead sciences [NASDAQ: GILD] revealed that the company signed a contract to purchase MYR GmbH. The company will pay nearly € 1.15M upon closing of the transaction plus a potential payment of €3M in the near future. This purchase will lead to Gilead gaining access to Hepcludex. Hepcludex is a first in class entry inhibitor for the treatment of Chronic HDV. European Medicine Agency approved the drug for the treatment of disease in adults. The drug is prepared to launch in other markets in 2021 after it was first launched in the markets of France, Germany, and Austria.

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This acquisition will enhance the launch of Hepcludex around the globe. The drug blocks the viral entry into the liver cells through binding into NTP. This is the only drug up till now that has been approved for the treatment of Hepatitis Delta Virus. MYR predicts that in 2021 the proposal of the drug with accelerated approval in the U.S.A

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