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Be the first with the news that moves the market- U.S.-listed shares of BELLUS Health Inc. (NDAQ:BLU) rallied 97.6 per cent in premarket trading on a major offer
- GSK Plc (NYSE:GSK) plans to buy the Canada-based drug developer in an all-cash deal for $2 billion
- Both companies announced the deal on Tuesday, which revolves round BELLUS’ experimental drug, camlipixant, which is in late-stage development for refractory chronic cough
- BELLUS Health Inc. (BLU) opened trading at C$9.71 per share
U.S.-listed shares of BELLUS Health Inc. (NDAQ:BLU) rallied 97.6 per cent in premarket trading on a major offer.
GSK Plc (NYSE:GSK) plans to buy the Canada-based drug developer in an all-cash deal for $2 billion.
Both companies announced the deal on Tuesday, which revolves round BELLUS’ experimental drug, camlipixant, which is in late-stage development for refractory chronic cough.
It is a condition can cause patients to cough more than 900 times a day. Roughly 10 million patients around the world live with it for more than a year. There are no approved therapies in the United States or Europe, so far.
GSK made an offer of U.S.$14.75 per share, which is more than double Bellus’ closing price of U.S.$7.26 on the NASDAQ on Monday.
In the pharmaceutical industry, GSK ranks as one of the largest firms by total sales. The company extends its influence across several therapeutic classes, including respiratory, cancer, and antiviral, as well as vaccines.
BELLUS Health Inc. (TSX:BLU) is a clinical-stage biopharmaceutical development company advancing novel therapeutics for conditions with a high unmet medical need, including BLU-5937, a P2X3 antagonist that has the potential to be a best-in-class therapeutic for chronic cough. The company operates in one business segment namely, the development of drug candidates for health solutions.
On Wall Street, the company’s stock has performed admirably, having gained 72 per cent since this time last year, it has risen 75.6 per cent since the beginning of the year and is up 107.7 per cent in the last five days,
BELLUS Health Inc. (BLU) opened trading at C$9.71 per share.
