Gilead Nears Deal to Buy Immunomedics for More Than $20 Billion – USA DAILY NEWS

Gilead Nears Deal to Buy Immunomedics for More Than $20 Billion

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Gilead Sciences Inc. is nearing a deal to buy biotech Immunomedics Inc. and its prized breast-cancer drug for more than $20 billion, according to people familiar with the matter.

Immunomedics has a market value of roughly $10 billion following a recent surge in its stock, meaning that Gilead is paying up to secure ownership of the company.

A…