GSK bags Tesaro for $5B as it leaps back into commercial oncology and beefs up cancer drug pipeline
GlaxoSmithKline has struck a deal to buy Tesaro $TSRO in a $5.1 billion deal that will vault the pharma giant into the commercial oncology market as it stakes out a big new role for itself in the booming cancer field.
Long discussed after Tesaro management put out the word on several occasions in the past year that it was looking to sell the company and its PARP inhibitor Zejula, GSK is paying $75 a share, triggering an instant 60% spike in the stock this morning as investors caught up to the news today.
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