00:00Gilead, the pharma giant, they've announced plans to buy German biotech company to Bullis for $5
00:05billion in its third major deal of the year. Bloomberg's Michelle Davis covers pharma deals
00:10and joins us now. First of all, did I say that correctly? And what are the details behind this?
00:15So, Tubulus. Tubulus. That makes so much more sense. Thank you, Michelle. You know,
00:20it's biotech. There's always made up names every day. But Tubulus is an interesting one because
00:23it was an IPO candidate. It's a private German biotech company. It was supposed to go public
00:27this summer. Gilead snapped it up before they could go public, obviously. And Tubulus is
00:33developing a drug for ovarian cancer. And it's in a class of drugs called ADCs or antibody drug
00:39conjugates that folks are really excited about because they basically deliver, the drug delivers,
00:44you know, cancer killing medicine directly into tumors. Gilead actually did one of the first big
00:50deals in the space years ago. And they already had a partnership with Tubulus. And they clearly
00:54liked what they saw. So they decided to buy it.
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