GSK will acquire Bellus, a Canada-based, late-stage biopharmaceutical company with products for patients suffering from refractory chronic cough (RCC).
GSK will pay US$14.75 (A$22) per share of common stock in cash, representing an approximate total equity value of US$2.0b (A$2.98b).
The acquisition provides GSK access to camlipixant, a potential best-in-class and highly selective P2X3 antagonist currently in phase III development for the first-line treatment of adult patients with RCC, a statement explained.
It is estimated that 28 million patients suffer from chronic cough, with 10 million patients globally and six million in the United States and European Union suffering from RCC for over a year.
Luke Miels, Chief Commercial Officer, GSK said "patients suffering from severe forms of refractory chronic cough can experience over 900 coughs daily, resulting in quality-of-life issues.
"Camlipixant, a novel, highly selective P2X3 antagonist, has the potential to be a best-in-class treatment with significant sales potential.
"This proposed acquisition complements our portfolio of specialty medicines and builds on our expertise in respiratory therapies."
Roberto Bellini, Chief Executive Officer of Bellus, said, "this acquisition recognises the value of our highly selective P2X3 antagonist camlipixant and validates the hard work and dedication of all the Bellus employees in advancing camlipixant to date".
The transaction remains subject to regulatory approvals.
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