Gilead to buy East Coast breast cancer-focused biotech in $21 billion deal

Peninsula biotech giant Gilead Sciences, Inc. has continued to bolster its cancer drug portfolio, this time with a huge purchase of a New Jersey breast cancer drugmaker. Foster City-based Gilead (NASDAQ: GILD) announced Sunday that it and Immunomedics (NASDAQ: IMMU) had entered into an all-cash agreement where Gilead would acquire the East Coast biotech for $88 per share. The transaction, which values Immunomedics at approximately $21 billion and was unanimously approved by both Gilead and Immunomedics'…