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

BusinessGermany

19.09.2014 In order to concentrate on the life science business, German industry giant Bayer is splitting off its plastics subgroup as a separate company.

FinanceSwitzerland

18.09.2014 Swiss biopharma Cardiorentis has received a €45m investment from overseas investment firm Healthcare Royalty Partners in order to finance the registration for its heart drug.

PoliticsEU

15.09.2014 Jean Claude Juncker, the European Commission President-elect revealed his new Commissioners last week, whilst announcing a change in the units dealing with medicines, medical devices and health technology.

BiosimilarsGermanyFrance

12.09.2014 The 2011 collaboration of Boehringer Ingelheim and Eli Lilly is bearing fruit. An insulin biosimilar developed through the partnership has now been approved in Europe - the first-ever generic version of this class.

FinancingNetherlands

11.09.2014 Cystic fibrosis specialist Proqr Therapeutics has set the terms for its upcoming IPO at US-American stock exchange NASDAQ.

Clinical TrialsUKSweden

09.09.2014 In the midst of the hustle and bustle of the European Respiratory Society’s International Congress 2014, Astrazeneca quietly announced the disappointing results of its latest benralizumab study.

BusinessDenmark

04.09.2014 After their arthritis product’s Phase IIb failure, Novo Nordisk A/S is pulling out of all research and development activities within inflammatory disorders.

BusinessBelgiumIrelandSwitzerland

02.09.2014 In the face of declining revenue, Belgian biopharmaceutical company Thrombogenics has decided to spin out its cancer research and development activities.

ResearchUKSwitzerlandItaly

29.08.2014 Just a week ago, Glaxosmithkline defused the WHO’s claim that an Ebola vaccine could be ready by 2015. Now, the British company’s own candidate vaccine is to be rushed to human trials with the help of funding from an international consortium.

Events

All Events

Current issue

All issues

Product of the week

Products

Stock list

All quotes

TOP

  • 4SC1.17 EUR0.00%
  • ACTELION109.60 CHF0.00%
  • ADDEX3.10 CHF0.00%

FLOP

  • CYTOTOOLS31.45 EUR-0.47%
  • 4SC1.17 EUR0.00%
  • ACTELION109.60 CHF0.00%

TOP

  • CO.DON3.32 EUR32.8%
  • EPIGENOMICS3.83 EUR23.5%
  • PAION3.05 EUR23.0%

FLOP

  • ADDEX3.10 CHF-22.5%
  • EVOTEC3.08 EUR-16.1%
  • MEDIGENE3.93 EUR-15.5%

TOP

  • SANTHERA88.05 CHF2058.1%
  • CO.DON3.32 EUR286.0%
  • PAION3.05 EUR202.0%

FLOP

  • CYTOS0.24 CHF-94.0%
  • BIOFRONTERA2.20 EUR-39.7%
  • MERCK KGAA68.48 EUR-39.7%

No liability assumed, Date: 21.09.2014