GSK’s bid for Human Genome Sciences rejected
pharmafile | April 19, 2012 | News story | Sales and Marketing | Benlysta, GSK, Human Genome Sciences, mergers and acquisitions
GlaxoSmithKline has launched a takeover bid for Human Genome Sciences for around $2.5 billion, but has been rejected by the US-based firm.
GSK and HGS launched their co-developed lupus treatment Benlysta last year, but has produced disappointing sales in its first year.
GSK has struck now because its partner’s share price has dropped by 76% since last year, largely due to Benlysta’s underwhelming performance.
The two companies are also collaborating on two further drugs – darapladib for the hardening of the arteries, and albiglutide for diabetes and heart failure.
HGS also has in its pipeline ABthrax (raxibacumab) for treating inhalation anthrax. The company has an agreed order for ABthrax with US Strategic National Stockpile, but must first gain FDA approval for the product.
The HGS Board says the offer does not reflect the company’s value, and is now exploring ‘strategic alternatives’ which include a potential sale of the firm.
The company says GSK is not excluded from this process – i.e., it is open to an improved offer. Meanwhile HGS has requested additional information on the progress of darapladib and albiglutide, the development of which is now being managed by GSK. HGS holds a stake in the molecules, and needs to assess how valuable they are before approaching any other potential buyers.
Andrew McConaghie
Related Content
GSK’s Exdensur receives MHRA approval for asthma and rhinosinusitis
GSK’s Exdensur (depemokimab), a twice-yearly biological medicine, has received approval from the UK Medicines and …
Multiple myeloma treatment approved in Japan
GSK’s Blenrep (belantamab mafodotin) combinations have been approved by Japan’s Ministry of Health, Labour and …
US FDA expands Jemperli (dostarlimab-gxly) plus chemotherapy approval to all adult patients with primary advanced or recurrent endometrial cancer as the first and only immuno-oncology-based treatment to show an overall survival benefit
PHILADELPHIA–GSK plc today announced the US Food and Drug Administration (FDA) has approved Jemperli (dostarlimab-gxly) in combination …
