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

PoliticsFranceUKSweden

24.04.2015 AstraZeneca has boosted its oncology portfolio by signing a US$1.275bn agreement with Innate Pharma. The companies plan to further the development of Innate’s tumour-targeting antibody.

PoliticsEU

22.04.2015 A legislative proposal by the European Commission is set to renationalise market authorisation of genetically modified crops.

FinancingUK

21.04.2015 Ahead of its listing on the London Stock Exchange, Woodford’s Patient Capital Trust has raised a record sum of €1.1bn. The fund met with immense interest by investors.

Swiss Biotech DaySwitzerland

16.04.2015 The Swiss biotech industry can look back on 2014 as a good year, but political uncertainties do remain. This was one of the topics discussed during the Swiss Biotech Day in Basel, which attracted more than 400 participants.

EventEUFrance

16.04.2015 The changing landscape in healthcare was just one of the hotly discussed topics of the 27th Annual EuroMeeting of the international association DIA.

R&DBelgium

14.04.2015 Belgian Thrombogenics NV has launched a new oncology company with Gent-based life sciences institute VIB. The new venture will develop an antibody for the treatment of a fast-growing brain tumour that affects children and adolescents.

Stock MarketsEUFranceUKNorwaySweden

09.04.2015 The European public markets remain highly attractive for biotech companies. Twice as many companies went public in the first quarter of 2015 than during the same period last year.

FinancingAustriaUKSwitzerlandGermany

08.04.2015 To bring its lead product of a new class of antimicrobials to phase 3 trials, Nabriva Therapeutics has completed a US$120m Series B financing.

Research & DevelopmentNetherlands

07.04.2015 Gene therapy is attracting more and more big pharma companies. Now, Bristol-Myers Squibb has forged a US$1bn collaboration with Dutch uniQure, also picking up a 4.9% share in the company.

Stock MarketsFrance

02.04.2015 Sensorion is the latest French biotech to go public, following a spate of IPOs on Paris Euronext. The biopharma plans for a €12m IPO to finance its pipeline of inner ear disease drugs.

Events

All Events

Partner-Events

München

BioVaria 2015

Current issue

All issues

Product of the week

Products

Stock list

All quotes

TOP

  • WILEX3.59 EUR5.59%
  • BASILEA118.10 CHF3.14%
  • PAION2.58 EUR2.79%

FLOP

  • BIOTEST79.20 EUR-19.51%
  • CYTOS1.01 CHF-8.18%
  • FORMYCON28.00 EUR-6.01%

TOP

  • CO.DON3.15 EUR22.1%
  • WILEX3.59 EUR21.3%
  • FORMYCON28.00 EUR21.0%

FLOP

  • CYTOS1.01 CHF-27.9%
  • BIOTEST79.20 EUR-18.1%
  • THERAMETRICS0.07 CHF-12.5%

TOP

  • SANTHERA98.85 CHF2460.9%
  • CYTOS1.01 CHF676.9%
  • WILEX3.59 EUR337.8%

FLOP

  • MOLOGEN5.08 EUR-54.7%
  • THERAMETRICS0.07 CHF-30.0%
  • BIOFRONTERA2.41 EUR-28.1%

No liability assumed, Date: 25.04.2015