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GSK to Acquire Sierra Oncology for ~$1.9B

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GSK to Acquire Sierra Oncology for ~$1.9B

GSK to Acquire Sierra Oncology for ~$1.9B

Shots:

  • GSK to acquire Sierra for $55/share of common stock in cash making a total deal value of ~$1.9B. It represents a 39% premium to Sierra Oncology’s closing stock price on 1 day prior & the transaction is expected to be close in Q3’22 or before
  • Following the completion of the transaction & the approval of momelotinib for myelofibrosis patients with anaemia, the therapy will contribute to GSK's growing business with expected sales in 2023. The stockholders of Sierra hold ~28% of outstanding shares
  • The acquisition complements GSK’s expertise in haematology with the addition of Momelotinib & supports the development of a strong portfolio for new therapies & vaccines. Sierra plans for regulatory submission in the US in Q2’22 & EU submission in H2’22

Ref: GSK | Image: GSK

Click here to­ read the full press release 

Neha

Neha Madan is a content writer at PharmaShots. She is passionate and very enthusiastic about recent updates and developments in the life sciences and pharma industry. She covers Biopharma, MedTech, and Digital health segments along with different reports at PharmaShots.

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