Gilead Sciences is close to acquiring Ouro Medicines, a biotech company specializing in immune disorder treatments, in a deal worth up to $2 billion. The pharmaceutical giant would pay $1.5 billion upfront with additional payments tied to clinical trial success.
Pharmaceutical company Gilead Sciences is close to finalizing the purchase of biotech firm Ouro Medicines in a transaction valued at as much as $2 billion, according to a Financial Times report published Monday.
The acquisition agreement would involve Gilead providing approximately $1.5 billion in immediate cash payments to Ouro’s private investors, with an additional $500 million or more contingent upon achieving specific clinical trial objectives, according to sources familiar with the negotiations cited in the report.
Ouro Medicines specializes in developing treatments for immune system disorders. The company announcement could come within days, though the Financial Times noted that both the timeline and financial terms remain subject to potential changes.
Neither Gilead Sciences nor the California-headquartered Ouro Medicines provided immediate responses when contacted by Reuters for comment on the reported acquisition.
Construction Shuts Down Lane on Route 54 East Through This Afternoon
Construction Causes Lane Closures on Park Avenue Until 5 PM
Park Avenue Lane Closures Continue Through 5 PM for Construction Work
Construction Causes Lane Restrictions on South Gerald Drive Until Evening