Core Viewpoint - Gilead Sciences, Inc. is acquiring CymaBay Therapeutics, Inc. for $32.50 per share, totaling an equity value of $4.3 billion, which has led to a significant increase in CymaBay's share price [1][2]. Financial Terms of the Acquisition - Gilead's wholly-owned subsidiary will initiate a tender offer for all outstanding shares of CymaBay at the proposed price [2]. - Remaining shares not tendered will be acquired through a second-step merger at the same price [2]. - The acquisition has received approval from both companies' boards and is expected to close in the current quarter, pending regulatory approvals [2]. Strategic Value of the Acquisition - The acquisition will enhance Gilead's pipeline with CymaBay's lead product candidate, seladelpar, which targets metabolic and liver disease pathways [3]. - A new drug application for seladelpar to treat primary biliary cholangitis (PBC) was submitted to the FDA, which granted priority review with a target action date of August 14, 2024 [3]. - Seladelpar has received Breakthrough Therapy Designation and orphan drug status in the U.S. and Europe for PBC treatment [3]. Revenue Impact - Potential approval of seladelpar is expected to boost Gilead's revenue growth, with the transaction likely being neutral to Gilead's bottom line in 2025 and significantly accretive thereafter [4]. Market Context - The acquisition complements Gilead's existing liver disease portfolio, which includes treatments for chronic hepatitis C and delta viruses, and is seen as a strategic move to offset slowing growth in its legacy HIV business [5]. - Despite the acquisition announcement, Gilead's stock rose only 1.06%, indicating investor concerns about the deal's valuation [5]. - Gilead's stock has declined 6.8% over the past six months, contrasting with a 1.3% decline in the industry [5]. Industry Trends - The pharmaceutical and biotech sectors are experiencing increased merger and acquisition activity as companies seek to diversify their portfolios amid generic competition [7]. - Other notable acquisitions in the industry include Bristol Myers' acquisition of Mirati Therapeutics for $4.8 billion and Novartis' acquisition of MorphoSys AG to enhance its oncology portfolio [7].

FOSTER CITY, Calif.--(BUSINESS WIRE)--Gilead Sciences, Inc. (Nasdaq: GILD) today announced the company has been named one of America’s Most JUST Companies. The ranking, presented by JUST Capital and CNBC, reflects Gilead’s longstanding commitment to operate responsibly by prioritizing stakeholder engagement – including with the patients and communities the company serves, employees and shareholders – while working to create a healthier world for all people. Gilead was recognized on the top 100 list and rank ...

Shares of Gilead Sciences (GILD -3.91%) are down 3.7% as of 3:30 p.m. ET Wednesday after the biopharmaceuticals giant announced mixed quarterly results relative to Wall Street's expectations.Why Gilead's "strong" year wasn't enoughGilead's fourth-quarter 2023 revenue declined 3.7% year over year to $7.115 billion, translating to non-GAAP (adjusted) net income of $1.72 per share (up from $1.67 per share in the same year-ago period). Analysts, on average, were expecting higher adjusted earnings of $1.76 per s ...

Mastercard today announced that its Board of Directors has declared a quarterly cash dividend of 66 cents per share. The cash dividend will be paid on May 9, 2024 to holders of record of its Class A common stock and Class B common stock as of April 9, 2024.The 3M Board of Directors today declared a dividend on the company's common stock of $1.51 per share for the first quarter of 2024. The dividend is payable March 12, 2024, to shareholders of record at the close of business on Feb. 16, 2024. 3M has paid di ...

Gilead Sciences, Inc. (GILD) reported mixed results in the fourth quarter as earnings missed expectations while sales surpassed the same.GILD’s fourth-quarter adjusted earnings of $1.72 per share missed the Zacks Consensus Estimate of $1.76 but increased from $1.67 in the year-ago quarter. The year-over-year increase was due to lower total costs and expenses.Total revenues of $7.1 billion beat the Zacks Consensus Estimate of $7 billion on better-than-expected Veklury (remdesivir) sales, due to an uptick in ...

Gilead Sciences, Inc. (NASDAQ:GILD) Q4 2023 Earnings Call Transcript February 6, 2024 5:00 PM ET Company Participants Jacquie Ross - Vice President, Investor Relations Daniel O’Day - Chairman and Chief Executive Officer Johanna Mercier - Chief Commercial Officer Merdad Parsey - Chief Medical Officer Andrew Dickinson - Chief Financial Officer Cindy Perettie - Executive Vice President, Kite Conference Call Participants Tyler Van Buren - TD Cowen Salveen Richter - Goldman Sachs Leon Wang - Barclays Terrence Fl ...

For the quarter ended December 2023, Gilead Sciences (GILD) reported revenue of $7.12 billion, down 3.7% over the same period last year. EPS came in at $1.72, compared to $1.67 in the year-ago quarter.The reported revenue represents a surprise of +0.51% over the Zacks Consensus Estimate of $7.08 billion. With the consensus EPS estimate being $1.76, the EPS surprise was -2.27%.While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determin ...

Q4 & FY23 Financial Results February 6, 2024 Contents Q4 & FY23 Key Takeaways 4-6 Commercial Results 7-17 Pipeline Updates 18-24 Financial Results 25-31 Appendix 33-40 Forward-Looking Statements Statements included in this presentation that are not historical in nature are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Gilead cautions readers that forward-looking statements are subject to certain risks and uncertainties that could cause actual results ...

FOSTER CITY, Calif.--(BUSINESS WIRE)--Gilead Sciences, Inc. (Nasdaq: GILD) today announced that the company’s Board of Directors has declared an increase of 2.7% in the company’s quarterly cash dividend, beginning in the first quarter of 2024. The increase will result in a quarterly dividend of $0.77 per share of common stock. The dividend is payable on March 28, 2024, to stockholders of record at the close of business on March 15, 2024. Future dividends will be subject to Board approval. About Gilead Scie ...

FOSTER CITY, Calif.--(BUSINESS WIRE)--Gilead Sciences, Inc. (Nasdaq: GILD) announced today its results of operations for the fourth quarter and full year 2023. “This was another strong year of revenue growth for Gilead’s base business, driven by both HIV and Oncology,” said Daniel O’Day, Gilead’s Chairman and Chief Executive Officer. “The strength of the business provides a solid foundation as we enter a new catalyst-rich phase for the company. We are expecting several milestones in 2024, including updat ...