GSK Acquires Tesaro in a USD 5.1 Billion Deal

Published on: 03 Dec, 2018

GlaxoSmithKline (NYSE: GSK) announced on Monday that it will acquire Tesaro (NASDAQ: TSRO) for USD 5.1 Billion.

This marks the first big acquisition since Hal Barron, a pharma veteran and experienced scientist took on the role of chief scientific officer.

GSK Chief Executive Officer Emma Walmsley said in a statement, “The acquisition of TESARO will strengthen our pharmaceuticals business by accelerating the build of our oncology pipeline and commercial footprint, along with providing access to new scientific capabilities.”

Tesaro is a cancer focused biotech based in Waltham, Mass. Their cancer drug Zejula is expected to reach sales in the range of USD 233 Million to USD 238 Million this year, according to Tesaro. Zejula works by acting as a hindrance to cancer cells by blocking an enzyme that repairs damage in their DNA. It’s utilized mainly in ovarian cancer, but also these class of cancer drugs Zejula is part of is also believed to be effective in treating prostate cancer as well.

Biotech Company violations have come down in recent events. With the acquisition coming at the end of 2018, buzz is created around biotech news going into the 2019 year. Tesaro has been rumored to be seeking a sale over the past year. The deal comes after speculation that it was in the works after Tesaro executives canceled on an investor conference.

Tesaro opened at USD 73.67 per share on Monday, an increase from the closing of USD 46.38 per share on Friday. GSK opened at USD 38.74 per share on Monday, a decrease from the closing of USD 41.86 per share on Friday.


  • 2464Views
  • 0Comments

Recommend to Friends

  • facebook
  • Twitter
  • google plus
  • pinterest
  • Digg
  • stumbleupon
  • Reddit
  • linkedin


Sign Up for Weekly Updates

Opt-into our eNewsletter NOW! For the Latest Trending Financial News Topics in Cannabis, Tech, Biotechs, Precious Metals, Energy, Renewable Energy and much more!

Related Posts

22 Jun, 2017 3129
10 Jul, 2017 3155
01 Aug, 2017 4072
09 Aug, 2017 3431


There is no comment on this article