GSK swoops for US cancer specialist in $1.15bn deal
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GSK PLC is set to acquire US biotech company IDRx for up to $1.15 billion, aiming to enhance its cancer therapy portfolio. The acquisition includes IDRX-42, a drug targeting gastrointestinal stromal tumors.
January 13, 2025 | 8:30 am
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GSK PLC plans to acquire US biotech company IDRx for up to $1.15 billion, including a $1 billion upfront payment. This acquisition aims to expand GSK's cancer therapy portfolio with IDRX-42, a drug for gastrointestinal stromal tumors.
The acquisition of IDRx by GSK is a significant move to strengthen its cancer treatment portfolio, particularly with the inclusion of IDRX-42, a promising drug for a rare cancer type. This strategic acquisition is likely to positively impact GSK's stock price in the short term as it demonstrates GSK's commitment to expanding its oncology offerings.
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