Glaxo to acquire US cancer drug firm
Biopharma: GlaxoSmithKline is to acquire oncology-focused US pharma business Tesaro for £4bn. The FTSE 100-listed group will also assume the firm’s net debt.
Tesaro is a commercialstage biopharma company and its marketed product Zejula is currently approved for treatment of ovarian cancer in both the US and Europe.
Zejula is also being investigated for its potential use in breast, lung, and prostate cancer patients. The Tesaro acquisition is expected to have a mid to high singledigit impact on Glaxo’s adjusted earnings per share for the first two years before becoming accretive by 2022.