Gilead bags blood disorder drug with YM BioSciences buy

(Reuters) – Gilead Sciences Inc said it would buy Canada’s YM BioSciences Inc for about $510 million in cash, getting access to a second experimental drug to treat a rare blood and immune cell disorder. Gilead shares closed down 0.14 percent at $76.23 on the Nasdaq, while YM’s U.S.-listed shares closed up 77 percent at $2.88, just under Gilead’s offer price. YM’s only drug, codenamed CYT387, is being tested in patients with myelofibrosis, a blood disorder with limited treatment options. …