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
Pacific.
Forward-Looking Statements
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.