GSK Acquires Sierra Oncology for USD 1.9 Billion
GlaxoSmithKline has agreed to buy Sierra Oncology and its lead drug assets, momelotinib, for anemia caused by the blood malignancy myelofibrosis. GSK is paying USD 55 per share in cash for Sierra, a 39% premium to the company's closing share price yesterday, valuing it at roughly USD 1.9 billion. Sierra acquired momelotinib from Gilead Sciences in 2018 following equivocal findings in earlier Phase 3 Myelofibrosis studies.
According to the company, Momelotinib could address a "major unmet need" in Myelofibrosis patients with anemia, a sign of the condition that can be exacerbated by current JAK inhibitor medicines,...
