GSK buys Genelabs for $57 million
This article was originally published in Scrip
GlaxoSmithKline is to buy Genelabs Technologies for $57 million to strengthen its hepatitis C virus portfolio. A GSK subsidiary will begin a tender offer of $1.30 per share in cash to acquire all the outstanding shares of Genelabs' common stock. Genelabs' board of directors has unanimously recommended that shareholders tender their shares in the offer, which is expected to close in December. Genelabs and its programmes will become part of GSK's drug discovery organisation. GSK says that there is a need for new hepatitis C drugs because the current gold standard therapy, pegylated-alpha interferon plus ribavirin, has a relatively low efficacy rate (around 50%) and both drugs are associated with significant side-effects. Genelabs has a number of nucleoside and non-nucleoside-based virus inhibitor products in early-stage development for hepatitis C. GSK's thrombopoietin agonist Promacta/Revolade (eltrombopag) is in Phase III trials for hepatitis C-associated thrombocytopenia (Scrip Online, November 8th, 2008).
You may also be interested in...
Laura Gonz�lez-Molero will be celebrating her first anniversary as President of Bayer HealthCare Pharmaceuticals, Latin America this month. With Bayer posting total sales of €1.05bnin Latin America in 2014, up 13% over 2013, Ms Gonz�lez-Molero should be pleased with a successful inaugural year. Resolute in her belief that innovation, "part of Bayer's DNA," will determine the company's long-term success in Latin America, rather than growth through acquisition, Ms Gonz�lez-Molero talks to Scrip about her personal ambitions for the company and the region.
A decade since its formation Anvisa, Brazil's medicines regulator, has shaken up the country's framework for ensuring drug quality. Yet the agency's approaches to drug pricing and registration have left some multinationals wanting, reports Sita Shah.
Elan is raising $1.5 billion in bonds to refinance its existing debt and for general corporate purposes, it says.