FOSTER CITY, CA, Feb. 8, 2013 /CNW/ - Gilead Sciences, Inc. (Nasdaq:
GILD) today announced that it has completed its acquisition of YM
BioSciences Inc. (NYSE MKT: YMI, TSX: YM).
On February 8, 2013, a subsidiary of Gilead acquired all of the
outstanding common shares of YM pursuant to the terms of a plan of
arrangement. As a result, YM has become a wholly-owned subsidiary of
Gilead and it is anticipated that the common shares of YM will no
longer be listed for trading on the NYSE MKT LLC or the Toronto Stock
Exchange, on or about February 12, 2013. Shareholders of YM on this
date will be entitled to receive U.S. $2.95 per common share in cash,
and holders of warrants and stock options will be entitled to receive a
cash payment equal to the difference between U.S. $2.95 and the
exercise price of such warrant or stock option.
About Gilead Sciences
Gilead Sciences is a biopharmaceutical company that discovers, develops
and commercializes innovative therapeutics in areas of unmet medical
need. Gilead's mission is to advance the care of patients suffering
from life-threatening diseases worldwide. Headquartered in Foster City,
California, Gilead has operations in North America, Europe and Asia
This press release includes forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995 that
are subject to risks, uncertainties and other factors, including risks
related to the ability of Gilead to advance YM's product pipeline,
including CYT387, and the possibility of unfavorable results of
clinical trials of CYT387. These risks, uncertainties and other factors
could cause actual results to differ materially from those referred to
in the forward-looking statements. The reader is cautioned not to rely
on these forward-looking statements. These and other risks are
described in detail in Gilead's Quarterly Report on Form 10-Q for the
quarter ended September 30, 2012, as filed with the U.S. Securities and
Exchange Commission. All forward-looking statements are based on
information currently available to Gilead, and Gilead assumes no
obligation to update any such forward-looking statements.
For more information on Gilead Sciences, please visit the company's
website at www.gilead.com, follow Gilead on Twitter (@GileadSciences) or call Gilead Public
Affairs at 1-800-GILEAD-5 or 1-650-574-3000.
SOURCE: YM BioSciences Inc.
For further information:
Patrick O'Brien, Investors
Nathan Kaiser, Media