LONDON — Searching for to construct up its most cancers enterprise, GSK mentioned Monday it’s shopping for the privately held U.S. biotech IDRx for $1 billion upfront.
The deal, which incorporates one other $150 million in milestone funds, provides GSK an experimental remedy for a uncommon gastrointestinal most cancers.
The announcement comes as a lot of the biopharma world gathers in San Francisco for the J.P. Morgan Healthcare Convention. Corporations and traders are searching for M&A to supply a jolt of vitality to the trade, and whereas the GSK deal will generate headlines, the $1 billion acquisition continues a streak of comparatively paltry purchases in current months in comparison with the megadeals of previous years.
This text is unique to STAT+ subscribers
Unlock this text — plus every day protection and evaluation of the pharma trade — by subscribing to STAT+.
Have already got an account? Log in
View All Plans
