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GSK to acquire Canada's 35Pharma for $950m
(Sharecast News) - Drugmaker GSK has agreed to acquire Canadian clinical-stage biopharmaceutical firm 35Pharma for $950m in cash.
GSK said on Wednesday that the acquisition includes 35Pharma's HS235, a potential best-in-class investigational medicine that has completed phase I healthy volunteer clinical trials, with studies to start imminently in pulmonary arterial hypertension and pulmonary hypertension due to heart failure with preserved ejection fraction.
The FTSE 100-listed firm noted that the global market for PH therapies was forecast to reach $18bn by 2032, with activin signalling inhibitors expected to account for 50% of this.
GSK added that transaction was subject to customary conditions, including applicable regulatory agency clearances under the Hart-Scott-Rodino Act in the US and the Competition Act in Canada, along with a filing under the Investment Canada Act.
Reporting by Iain Gilbert at Sharecast.com
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