You are here: Home » International » News » Companies
YouTube will remove misinformation on US presidential poll results
US FDA advisory panel meets on Pfizer's Covid-19 vaccine emergency use
Business Standard

Gilead to acquire German biotech firm MYR for about 1.15 billion euros

The deal will also include a potential future milestone payment of up to 300 million euros

Topics
Gilead Sciences | Global M&A | biotech

Reuters 



Photo: Reuters
Photo: Reuters

Inc said on Thursday it will acquire MYR GmbH for about 1.15 billion euros ($1.39 billion) in cash, giving it access to the German company's treatment for a severe form of viral hepatitis.

The deal will also include a potential future milestone payment of up to 300 million euros.

MYR's drug Hepcludex was conditionally approved by the European Medicines Agency in July to treat chronic hepatitis delta virus (HDV) infection in adults with liver cirrhosis.

The German company expects to submit an application for the accelerated approval of Hepcludex, which works by blocking viral entry into liver cells, in the United States in the second half of 2021.

The U.S. Food and Drug Administration has granted the medicine 'orphan drug' and 'breakthrough therapy' tags for chronic HDV indication.

"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," Gilead chief executive officer Daniel O'Day said.

 

($1 = 0.8252 euros)


Subscribe to Business Standard Premium

Exclusive Stories, Curated Newsletters, 26 years of Archives, E-paper, and more!

Insightful news, sharp views, newsletters, e-paper, and more! Unlock incisive commentary only on Business Standard.

Download the Business Standard App for latest Business News and Market News .

First Published: Thu, December 10 2020. 19:11 IST

RECOMMENDED FOR YOU

.