Gilead Acquires Oral IL-23R Inhibitor Program for $1.275b in Cash

Dow Jones10-23

Gilead Sciences agreed to acquire an oral IL-23R inhibitor program from privately held PepStar Therapeutics for $1.275 billion in cash.

The deal gives Gilead worldwide rights to the program, including its lead asset known as HCXT-2001. Gilead plans to develop the asset, alone or in combination with the company's other drugs, as a possible treatment for inflammatory bowel disease.

The acquisition, set to close in the fourth quarter, is expected to reduce Gilead's fourth-quarter earnings-per-share by between 79 cents and 83 cents, the company said.

"HCXT-2001 adds a potentially differentiated oral approach to our growing inflammation pipeline, reflecting our commitment to addressing significant unmet patient needs," Chief Medical Officer Dietmar Berger said.

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