GSK will buy Bellus Health for $2B, setting up showdown with Merck
GSK is dishing out $2 billion to acquire Bellus Health, the British pharma giant announced Tuesday morning, stoking more M&A buzz amid a widespread slowdown for biotech dealmaking.
In offering $14.75 per share — a 103% premium to Bellus’ closing price on Monday — GSK is buying its way into a blockbuster rivalry with Merck. For years, Bellus Health has built its story around challenging giant Merck in developing a P2X3 receptor antagonist to treat chronic cough. Now, it’s up to GSK to prove Bellus’ camlipixant — provided the Phase III data do turn up positive.
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