GlaxoSmithKline is to acquire oncology-focused US pharma business Tesaro for 5.1 billion US dollars (£4 billion). GlaxoSmithKline is to acquire oncology-focused US pharma business Tesaro for 5.1 billion US dollars (£4 billion). The FTSE 100-listed group will pay 75 US dollars per share in cash for Tesaro and also assume the firm’s net debt. Tesaro is a commercial-stage biopharma company and its marketed product Zejula is currently approved for treatment of ovarian cancer in both the US and Europe. Zejula booked 166 million US dollars (£130 million) in revenue in the nine months to September 30.

Source: Irish Independent December 03, 2018 13:59 UTC