Gilead Ramps Up Cancer Focus With $21 Billion Immunomedics Deal

(Bloomberg) — Gilead Sciences Inc. agreed to acquire Immunomedics Inc. for about $21 billion, a substantial premium for the maker of a promising breast-cancer therapy, in another big bet by the drug giant that an innovative tumor fighter can boost its fortunes. The proposed $88-a-share deal values Immunomedics at more than twice its closing price of $42.25 on Friday. The company makes a breast-cancer treatment called Trodelvy that gained…