Why Gilead Sciences Might Not Make an Oncology Acquisition

Is Gilead Sciences (NASDAQ: GILD) backing away from its plans to acquire a smaller biotech focusing on oncology? That could be the case. Gilead CEO John Milligan reportedly told Leerink analyst Geoffrey Porges that the company "might end up doing nothing in oncology."

Just a few months ago, Milligan and other Gilead executives were openly talking about the possibility of an acquisition to bolster its oncology portfolio. What's changed? And what could this mean for Gilead?

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Source: Fool.com