GSK has agreed to buy Canadian biotech Bellus Health in a $2bn deal, its largest acquisition since the UK drugmaker spun off its consumer health division last year.
The deal is designed to bolster GSK’s drug pipeline by adding Bellus Health’s speciality medicine for a debilitating and persistent cough, a condition that GSK says affects 10mn people.
The drug, camlipixant, is in a late-stage trial. Luke Miels, GSK’s chief commercial officer, said it had the potential to be “best-in-class”.
GSK will pay $14.75 per share in cash for Bellus, representing a premium of more than 100 per cent to the Canadian’s company’s closing share price on Monday.
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