equitieswatch
Thursday, February 2, 2023
About us
Advertise
  • Home
  • Stock Market
  • Finance
  • Cryptocurrency
  • Commodities
No Result
View All Result
Equitieswatch.com
No Result
View All Result

GSK to buy Sierra Oncology for $1.9 billion in boost to blood cancer ops By Reuters

by equitieswatch
April 13, 2022
in Stock Market

YOU MAY ALSO LIKE

Mexico’s new airport gets boost from Panama’s Copa Airlines By Reuters

Honda and Sony Team Up to Tackle Tesla


© Reuters. GSK logo is seen in this illustration taken on January 17, 2022. REUTERS/Dado Ruvic/Illustration

(Reuters) -Britain’s GlaxoSmithKline (NYSE:) has agreed to buy California-based biopharmaceutical company Sierra Oncology (NASDAQ:) in a cash deal valued at $1.9 billion, the companies said on Wednesday, as it seeks to bolster its blood cancer business.

Shareholders in Sierra, which focuses on targeted therapies for the treatment of rare forms of cancer, will receive $55 per share of common stock in cash, GSK said.

That’s a 39% premium to Tuesday’s closing price and about two thirds more than the volume-weighted average price (VWAP) over the last 30 trading days, it said.

The deal comes as Sierra prepares to apply in the second quarter for U.S. marketing approval for its experimental drug momelotinib, used to treat anaemic patients with a type of bone marrow cancer.

Data from a late-stage clinical trial showed in January it was successful in reducing disease symptoms and also cut patients’ dependence on blood transfusions.

The acquisition will complement GSK’s multiple myeloma treatment, Blenrep, GSK said. Myeloma is a type of blood cancer that develops from cells in the bone marrow called plasma cells.

Source link

ShareTweetPin

Search

No Result
View All Result

Recent News

Oil slips further on demand, financial market worries By Reuters

Oil Sinks Further Amid China Concerns, Weakened Economic Prospects By Investing.com

October 25, 2022
Gold Up, Set for Second Weekly Gain as Dollar Falls from 20-Year High By Investing.com

Gold Pressured Near $1,650, Copper Muted on Economic Fears By Investing.com

October 25, 2022
Explainer-What would be the impact of Russian oil sanctions in Europe? By Reuters

Oil prices edge higher as U.S. dollar eases By Reuters

October 25, 2022
Equitieswatch.com

Equitieswatch.com is your Stock Market, Finance, Forex, Cryptocurrency, Business, NFT News Website. We provide you with the latest breaking news and videos straight from the Business industry.

  • Home
  • About us
  • Contact
  • Privacy Policy

© 2022 www.equitieswatch.com

No Result
View All Result
  • Home
  • Stock Market
  • Finance
  • Cryptocurrency
  • Commodities

© 2022 www.equitieswatch.com