GSK to buy cancer company for USD 1.9bn

Glaxosmithkline and Sierra Oncology have agreed to terms that would bring the Canadian biotech firm into British hands.

Photo: Toby Melville/REUTERS / X90004

Another acquisition is taking place in the pharmaceutical industry at large, as Glaxosmithkline (GSK) and Sierra Oncology have announced on Wednesday that they have reached an agreement, a press release reports.

For a total sum of USD 1.9bn, GSK is thus set to take over Sierra Oncology and its lead candidate, momelotinib, which is slated to be put in front of both the US Food and Drug Administration (FDA) and the European Medicines Agency (EMA) this year, as a potential treatment for anemia patients with myelofibrosis, a rare type of bone marrow cancer that affects the body’s production of blood cells.

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