GSK to buy Canadian biotech that developed new cough medicine

GSK agreed to buy Canadian biotech Bellus Health Inc. for about $2 billion to bolster its pipeline of experimental medicines. The takeover will bring GSK a cough medicine that’s shown promising results in clinical trials and has advanced through much of the research process. GSK has been trying to replenish its product pipeline as the company faces pressure to improve shareholder returns and keep up with UK rival AstraZeneca. About 28 million patients worldwide suffer from refractory chronic cough, which the cough medicine camlipixant targets. The disease is marked by a persistent cough that lasts for more than eight weeks, doesn’t respond to treatment for an underlying condition, or remains unexplained.