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GSK PLC - London-based pharmaceutical company - Completes acquisition of Sierra Oncology Inc, for $55 per share in cash, representing a total value of $1.9 billion. Notes acquisition includes momelotinib, a late-stage potential treatment for myelofibrosis patients with anaemia. Last month, Sierra presented data for the treatment from phase III Momentum trial, which met all its key primary and secondary endpoints. The drug showed a statistically meaningful benefit on symptoms, splenic response, and anaemia.
Chief Commercial Officer Luke Miels says: ‘This acquisition expands our innovative oncology portfolio, demonstrating our commitment to improving patient outcomes and creating value for shareholders. We now have a late-stage differentiated molecule in momelotinib, which could potentially address a significant unmet need in myelofibrosis patients with anaemia. Our focus is now on execution.’
Current stock price: 1,776.60 pence, up 0.6% on Friday
12-month change: up 24%
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