News

GSK to buy HGS for US$ 3bn
Enlarge image

BusinessUK

GSK to buy HGS for US$ 3bn

18.07.2012 - A three month buyout dispute has come to an end: Drug giant GlaxoSmithKline plc is to buy Human Genome Sciences Inc. for about US$3,6bn (€2,9bn) or US$3bn after subtracting HGS’s cash and debt, the companies said.

The deal follows weekend talks in which the UK's largest pharmaceutical company agreed to raise its cash bid to US$14.25 a share from US$13. The boards of both companies have approved the deal. GSK said the deadline to tender shares is July 27. The pharma expects to achieve at least US$200m in cost savings from the deal by 2015.

The purchase gives GSK rights to several recently-launched medicines. Thomas Watkins, chief executive of HGS, said: “After a thorough analysis of strategic alternatives, HGS has determined that a combination with GSK is the best course of action for our company and the best way to maximise value for our stockholders.” Rockville-based Human Genome Sciences and GSK originally partnered in 1993 to develop products based on genes identified by the biotech. Last March, the partners launched the first approved product developed under the deal, belimumab (Benlysta). GSK will also gain full rights to two Phase III products: cardiovascular compound darapladib and diabetes product albiglutide. GSK has made multiple buyout offers since April that valued HGS at US$2.6bn, or US$13 per share, but the company’s board of directors repeatedly rejected them as too low .

http://www.european-biotechnology-news.com/news/news/2012-03/gsk-to-buy-human-genome-sciences-for-us-3bn.html

FinancingBelgium

20.07.2016 Belgian molecular diagnostics company Biocartis Group NV has raised €55m and will use the funds mainly to expand manufacturing capacities for its PCR-based molecular diagnostics system Idylla.

Stock marketsFranceEU

19.07.2016 It is Europe’s first gene therapy company to float on Euronext: Gensight raised €40m in its IPO. And it is not the only French company that has taken the leap in an uncertain market climate – Alzheimer’s expert Pharnext also went public.

ResearchUK

18.07.2016 When NASA blasted off to the International Space Station on Monday morning, it had UK tech on board. A miniature DNA sequencer from Oxford Nanopore will be used to keep an eye on the ISS atmosphere – and may even analyse alien DNA one day.

M&AUKSwitzerland

13.07.2016 Cell Medica has acquired Swiss antibody specialist Delenex Therapeutics. The deal nets the British cellular therapeutics developer Delenex’ proprietory antibody fragment platform Pentrabody.

R&DAustriaFrance

12.07.2016 Vienna-based vaccine specialist Themis Bioscience GmbH has secured broad access to a promising virus vaccine vector tech by extending its license agreement with French Institut Pasteur. Its goal: to develop a Zika vaccine.

M&AFranceEU

07.07.2016 Californian biopharma Medivation has agreed to confidential negotiations with its suitors, in particular the French pharmaceutical company Sanofi, which aggressively has buffeted the cancer therapy specialist for months.

Prenatal DiagnosticsEUUK

06.07.2016 The European Commission started an investigation into Illumina’s and Sequenom’s 2014 patent agreement, UK-competitor Premaitha Health said. The two US companies had agreed to pool their Noninvasive Prenatal Testing IP.

GenericsSpainGermanyEU

04.07.2016 Cinfa Biotech is shuffling for position on the lucrative biosimilar market. The Spanish-German company has published positive results in a study for a pegfilgrastim copycat with 172 healthy volunteers in Germany.

Drug discoveryUKSwitzerland

30.06.2016 UK’s Heptares Therapeutics and Paul Scherrer Institute spinoff leadXpro will collaborate to find new approaches for the determination of high-res X-ray structures of G protein-coupled receptors to find new drugs.

Nuclear medicineNorwayFrance

28.06.2016 Nordic Nanovector has teamed up with Areva Med to develop a treatment for leukaemia. The compound in question is a lead-212 conjugated anti-CD37 antibody.

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

  • MOLOGEN (D)1.50 EUR12.78%
  • BIOCARTIS GROUP NV (B)7.57 EUR7.53%
  • SWEDISH ORPHAN BIOVITRUM (S)13.11 USD6.59%

FLOP

  • NICOX (F)11.57 EUR-8.61%
  • KAROLINSKA (S)7.55 SEK-4.43%
  • AB SCIENCE (F)14.20 EUR-4.05%

TOP

  • PROTHENA PLC (IE)53.17 USD49.9%
  • FLAMEL TECHNOLOGIES (F)12.49 USD32.2%
  • TIGENIX (B)1.05 EUR26.5%

FLOP

  • MOLOGEN (D)1.50 EUR-40.0%
  • EVOCUTIS (UK)0.04 GBP-20.0%
  • SANTHERA (CH)56.75 CHF-18.9%

TOP

  • KARO BIO (S)28.70 SEK1705.0%
  • NICOX (F)11.57 EUR493.3%
  • SAREUM HOLDINGS (UK)0.64 GBP166.7%

FLOP

  • BB BIOTECH (D)45.22 EUR-84.5%
  • NEUROVIVE PHARMACEUTICAL AB (S)4.64 SEK-79.3%
  • EVOCUTIS (UK)0.04 GBP-76.5%

No liability assumed, Date: 25.07.2016