In a bid to bolster its liver portfolio, Gilead Sciences has agreed to acquire CymaBay Therapeutics for US$32.50 per share in cash, representing a total equity value of US$4.3 B. Through the deal, Gilead picks up access to the investigational asset, seladelpar, currently under US FDA review for the treatment of primary biliary cholangitis (PBC) with pruritus without cirrhosis or with compensated cirrhosis, with approval anticipated in the third quarter of 2024. If approved, the drug will join Intercept Pharmaceuticals’ Ocaliva (obeticholic acid) as the only other treatment on the market for the chronic, autoimmune disease.