Sector News

GlaxoSmithKline to acquire Tesaro for $4.16 billion

December 4, 2018
Life sciences

GlaxoSmithKline has agreed to buy oncology-focused pharmaceutical company Tesaro Inc. for about $4.16 billion in cash as it looks to expand its oncology pipeline of commercially viable drugs.

The British pharmaceutical company said it would offer $75 a share in cash to Tesaro shareholders, a 62% premium from its share price on last Friday’s close. The deal will also include the assumption of debt.

The Waltham, Mass.-based Tesaro is a commercial-stage biopharmaceutical company that is best known for Zejula, a treatment for ovarian cancer. Zejula is currently approved in both the U.S. and Europe for the treatment of adult patients with recurrent ovarian cancer. The drug has also worked well with chemotherapies regardless of which mutation or biomarker status the patient may carry, the company said in a release.

“The acquisition of Tesaro will strengthen our pharmaceuticals business by accelerating the build of our oncology pipeline and commercial footprint, along with providing access to new scientific capabilities,” said GlaxoSmithKline Chief Executive Emma Walmsley in prepared remarks.

By Kimberly Chin

Source: MarketWatch

comments closed

Related News

December 3, 2023

FDA names chief scientist Bumpus as Woodcock’s successor

Life sciences

The Food and Drug Administration’s top scientist Namandjé Bumpus will assume the role of principal deputy commissioner when longtime agency leader Janet Woodcock retires from that role in early 2024, according to an announcement Thursday.

December 3, 2023

AbbVie to buy cancer drug maker ImmunoGen for $10.1 Billion

Life sciences

US biopharma AbbVie has agreed to acquire ImmunoGen in a deal which values the company at about $10.1 billion and gives AbbVie access to flagship cancer therapy Elahere (mirvetuximab soravtansine-gynx), a first-in-class antibody-drug conjugate (ADC) approved for platinum-resistant ovarian cancer (PROC), as well as a pipeline of promising next-generation ADCs.

December 3, 2023

EuroAPI appoints new Executive Committee members

Life sciences

EUROAPI today announced the appointment of David Seignolle as Chief Operating Officer, succeeding Eric Berger, and Marion Santin as Chief Legal, Compliance, and IP Officer, both joining the company’s Executive Committee. In his new role, David Seignolle will lead the transformation of the Industrial Operations organization.

How can we help you?

We're easy to reach