GSK Will Take Its HGS Bid Hostile; Will Shareholders Buy In?
This article was originally published in The Pink Sheet Daily
GSK plans to take its $13 per share offer straight to Human Genome Sciences shareholders after being turned down by the company last month.
You may also be interested in...
Human Genome Sciences says the long-term blockbuster opportunity in Benlysta and the potential of its pipeline products are under-valued by GlaxoSmithKline’s takeover offer. Management at GSK, however, plays down any talk of increasing its bid.
GlaxoSmithKline swoops in to acquire its research partner Human Genome Sciences – made vulnerable by the weak launch of Benlysta – for $13 per share in cash, or about $2.6 billion.
In the fourth quarter, the new SLE drug continued its slow sales growth – HGS said rheumatologists are still largely in trial mode, testing the drug in a few patients and gaining confidence in its benefits.