Gold notches back-to-back gains for highest finish in 2 weeks

35 views
Fed policy announcement due Wednesday
Gold futures notched back-to-back gains on Tuesday to mark their highest finish in two weeks, ahead of what are expected to be dovish statements from global central banks this week that may provide renewed support for the precious metal.
A rise in U.S. Treasury note yields and the stock market had pressured prices for the precious metal for part of the day’s session.
“There is a lot of clutter in the market impacting gold,” Jeff Wright, executive vice president of GoldMining Inc., told MarketWatch.
“This acquisition represents significant progress in Gilead’s work to build a strong and diverse oncology portfolio. Trodelvy is an approved, transformational medicine for a form of cancer that is particularly challenging to treat. We will now continue to explore its potential to treat many other types of cancer, both as a monotherapy and in combination with other treatments,” said Daniel O’Day, Chairman and Chief Executive Officer, Gilead Sciences.
“We look forward to welcoming the talented Immunomedics team to Gilead so we can continue to advance this important new medicine for the benefit of patients with cancer worldwide.”
The acquisition will be funded through $15 billion in cash on hand, as well as $6 billion in newly issued debt.
“We are very pleased that Gilead recognized the value of Trodelvy – both for the important role it has already begun to play for patients with metastatic triple-negative breast cancer and for its potential to help many other patients with cancer in the future,” said Behzad Aghazadeh, PhD, Executive Chairman of Immunomedics.
“We are excited for the opportunities ahead of us as we join with Gilead to advance our shared mission in defeating cancer. By working with Gilead, we have the opportunity to accelerate our progress and improve care for patients in need of new therapies.”
“We are excited for the opportunities ahead of us as we join with Gilead to advance our shared mission in defeating cancer. By working with Gilead, we have the opportunity to accelerate our progress and improve care for patients in need of new therapies.”
The deal was approved by the boards of both companies and is expected to close in the fourth quarter of 2020.
Disclaimer: We have no position in any of the companies mentioned and have not been compensated for this article.
Share on facebook
Facebook
Share on twitter
Twitter
Share on linkedin
LinkedIn
Share on pinterest
Pinterest
Share on google
Google+

LANGUAGE

ArabicChinese (Simplified)DutchEnglishFrenchGermanItalianPortugueseRussianSpanish

MARKET OVERVIEW​

RECENT POSTS

Enter Your E-mail Address To Subscribe