GSK - Was This Acquisition a Savvy Play by This Big Pharma Stock?
2023-04-26 09:00:00 ET
Earlier this month, U.K.-based drugmaker GSK (NYSE: GSK) reached a deal to buy Canadian biotech company Bellus Health (NASDAQ: BLU) for $2 billion in cash.
With the acquisition anticipated to close by the third quarter of this year, it's worth asking: What did GSK obtain from this deal? And was it worth the cash consideration to acquire? Let's dig in to find out.
Should GSK's deal for Bellus Health be approved by regulatory authorities and a two-thirds majority of the latter's shareholders, the former will pick up a promising drug candidate, camlipixant, that aims to treat refractory chronic cough (RCC).
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Was This Acquisition a Savvy Play by This Big Pharma Stock?