GSK completes takeover of Human Genome
Pharmaceuticals giant GlaxoSmithKline has completed its acquisition of Human Genome Sciences (HGS), its long-term biotech partner, having bought all of the 174.4m outstanding shares in the company for 1,425 cents each.
Pharmaceuticals giant GlaxoSmithKline has completed its acquisition of Human Genome Sciences (HGS), its long-term biotech partner, having bought all of the 174.4m outstanding shares in the company for 1,425 cents each.
The shares, equal to around 87% of the share capital, were purchased for a total of $3.6bn on an equity basis, or around $3bn net of cash and debt.
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HGS's listing on the North American Stock Dealers Automated Quotation (NASDAQ) exchange has now been cancelled.
The two companies have collaborated for a long time in the past, including on Benlysta, a treatment for Lupus.
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