News

GSK makes hostile $2.6bn for Human Genome Sciences
Enlarge image

BusinessUK

GSK makes hostile $2.6bn for Human Genome Sciences

10.05.2012 - After takeover negotiations were rejected by Human Genome Sciences GlaxoSmithKline has made a hostile bid.

London/Rockville – The British drugmaker said he will launch a tender offer of $13 per share next week totalling $2.6bn. Until now, the management of HGS, which co-markets the new lupus antibody Benlysta (belimumab), has resisted to GSK’s takeover plans. The company that has partnered three of its clinical programmes with GSK said the offer was too low. In reality, HGS’ shares were valued at $30 a year ago. GSK’s bid represents an 81% premium on HGS current share value. 

Analysts initially expected Benlysta to become a blockbuster with potential annual revenues of $2-3bn after it was approved in the US, Canada and Europe last year as therapy in adults with active autoantibody-positive systemic lupus erythematosus, with a high degree of disease activity despite standard therapy. However, market expectations of the first new treatment approved for lupus in 56 years were dented in Europe, where GSK markets the drug, after it was rebuffed in two lead markets. In late 2011, British NICE said the treatment was to costly. In May, German health technology assessor IQWiG said GSK failed to prove that the drug offers an advantage to standard therapy. Lupus patients will be charged $35,000 for 1 year of treatment in the US and $23,000 per year in Europe.

Besides the lupus treatment, which had been developed with GSK since 2006, HGS has two further compounds partnered by GSK in Phase III development. Darapladib, a small-molecule Lp-PLA2 inhibitor, is developed for the treatment of coronary heart disease and Albiglutide, an albumin-fusion protein targets the market for diabetes 2 therapies. 

http://www.european-biotechnology-news.com/news/news/2012-02/gsk-makes-hostile-26bn-for-human-genome-sciences.html

FinancingUK

23.08.2016 Cambridge University-allied investor Cambridge Innovation Capital has raised £75m (€87m) to reinvest in technology and healthcare companies. Among the backers were Woodford Investment and Winton Ventures.

R&DDenmark

19.08.2016 Together with partner Johnson & Johnson, Danish biotech Genmab is now one step closer to FDA approval with its combination treatment for multiple myeloma after its submission of a supplemental Biologics License Application. In July, Genmab was granted a Breakthrough Therapy Designation (BTD) for its blood cancer therapy.

ResearchUKEU

17.08.2016 Philip Hammond, the UK’S chancellor has announced the government will guarantee funding for EU-backed "structural and investment fund" projects whose timelines extend beyond the UK’s departure from the EU, provided the projects are signed prior to this year's Autumn Statement on the UK budget. The decision ensures continued funding for farmers, companies and institutions involved in the EU’s Horizon 2020 project. The move could cost the UK government up to £6bn (€6.9bn).

Stock marketsGermany

15.08.2016 Back in April, the American FDA gave the green light for the colorectal cancer-screening test Epi procolon. Now Berlin-based diagnostics specialist Epigenomics is considering a secondary listing in the US. A draft of the required registration document was confidentially submitted to the US Securities and Exchange Commission (SEC).

LicensingDenmark

11.08.2016 Danish Genmab AS has granted Gilead Sciences license to use its DuoBody technology platform to develop bispecific antibodies for the treatment of HIV. The deal is worth up to €252m.

Clinical developmentHungaryIreland

09.08.2016 Hungarian Gedeon Richter and Irish Allergan are staying on course in the face of dissappointing Phase III results for depression drug cariprazine. The partners will now begin another Phase III study needed for approval.

ImmunotherapySpain

08.08.2016 Araclon Biotech’s Alzheimer’s vaccine ABvac40 is going forward into Phase II after showing a good safety profile in Phase I. The promising trial results were presented at the Alzheimer’s Association International Conference.

ApprovalEU

04.08.2016 After a two-year pilot period, the EMA has published its report on its adaptive pathways approach. The agency plans to “explore the concept further” and will continue to accept proposals.

BusinessPolandUK

01.08.2016 Life science venture capital group Epidarex has launched Nodthera Ltd, a biotech based on research by Poland-based drug discovery company Selvita. The start-up aims to develop novel inhibitors of the NLRP3 inflammasome.

R&DUKIreland

29.07.2016 GlaxoSmithKline has in-licensed Janssen’s anti-IL-33R monoclonal antibody for severe asthma. The British drugmaker is paying €208m up front for the mAb.

Quick news provided by GlobeNewswire

View more stock news

Events

All Events

Partner-Events

Current issue

All issues

Product of the week

Products

Stock list

All quotes

TOP

  • MOLMED (I)0.39 EUR11.43%
  • CERENIS THERAPEUTICS HOLDING SA (F)7.51 EUR10.77%
  • SYNGENTA (CH)421.20 CHF10.61%

FLOP

  • RENEURON (UK)2.62 GBP-9.03%
  • BIONOR PHARMA (N)0.48 NOK-7.69%
  • ZEALAND PHARMA (DK)113.50 DKK-6.58%

TOP

  • DIAMYD MEDICAL -B- (S)7.15 SEK70.2%
  • KARO BIO (S)37.80 SEK31.7%
  • NEUROVIVE PHARMACEUTICAL AB (S)5.80 SEK25.0%

FLOP

  • BIONOR PHARMA (N)0.48 NOK-21.3%
  • NOVOZYMES (DK)286.90 DKK-13.5%
  • RENEURON (UK)2.62 GBP-12.7%

TOP

  • KARO BIO (S)37.80 SEK2420.0%
  • NICOX (F)10.12 EUR459.1%
  • SAREUM HOLDINGS (UK)0.76 GBP261.9%

FLOP

  • BB BIOTECH (D)45.12 EUR-81.0%
  • EVOCUTIS (UK)0.04 GBP-78.9%
  • NOVACYT (F)1.29 EUR-70.6%

No liability assumed, Date: 23.08.2016