Reported 1 day ago
British drugmaker GSK has announced plans to acquire Boston-based biopharmaceutical company IDRx for up to $1.15 billion. IDRx is developing a treatment for gastrointestinal stromal tumors, and the acquisition includes an upfront payment of $1 billion. This move aligns with GSK's strategy to enhance its offerings in cancer therapies as it faces challenges in its vaccine segment. GSK's Chief Commercial Officer highlighted that the acquisition addresses significant medical needs in the market.
Source: YAHOO