GSK To Pay $720 Million For Sirtris
This article was originally published in The Pink Sheet Daily
Executive Summary
Independent unit will target diabetes and diseases of aging, deal crafter tells “The Pink Sheet” DAILY.
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Since the mid-2000s, GlaxoSmithKline has been working to rejuvenate its R&D organization, which it believed wasn't sufficiently productive. Industry watchers are gauging progress closely, particularly as the cornerstone of its new approach, the division of GSK's drug discovery operations into nearly 40 specialized and idiosyncratic Drug Performance Units, or DPUs, approaches milestone deadlines in 2011, and as the rest of the industry also struggles with R&D productivity.
GSK Sees Much More In Sirtris Than Meets The Eye – IN VIVO Blog
How does an early-stage biotech company, focused on a single set of targets, with a lone compound in early Phase II and everything else preclinical (including its most promising compounds), command a buyout price of $720 million?