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

Gilead Sciences 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 biotech 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.

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