Gilead Sciences Inc. (Nasdaq: GILD) will acquire YM BioSciences Inc. (NYSE: YMI) for about $510 million.
The deal amounts to about $2.95 per share.
YM is in the testing phases for a medication that could help patients with myelofibrosis, a bone marrow disorder. The disorder causes bone marrow to be replaced by scar tissue, which makes it difficult for the bone marrow to produce blood cells, which can lead to anemia, low blood-platelet count and spleen enlargement.
Foster City, Calif.-based Gilead is a biopharmaceutical company that commercializes and develops medications.
Other recent pharmaceutical deals include Pernix Therapeutics Holdings Inc.’s (NYSE: PTX) purchase of Somaxon Pharmaceuticals Inc. (Nasdaq: SOMX) in a $25 million all-stock deal, Nuron Biotech’s acquisition of vaccine Meningitec, and Pfizer Inc.’s (NYSE: PFE) NextWave Pharmaceuticals Inc. purchase.