GSK To Buy BELLUS Health In US$2.0 Bln Deal

(RTTNews) - GSK plc (GSK, GSK.L) agreed to buy BELLUS Health Inc. (BLU, BLU.TO), a Canada-based, late-stage biopharmaceutical company working to better the lives of patients suffering from refractory chronic cough, for US$14.75 per share in cash representing an approximate total equity value of US$2.0 billion.

The per-share price represents a premium of approximately 103% to BELLUS' closing stock price on 17 April 2023. BELLUS' Board has unanimously recommended that BELLUS' shareholders vote in favour of the approval of the acquisition. The transaction is expected to close in the third quarter of 2023 or earlier.

GSK said that the acquisition provides it 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 refractory chronic cough.

Following the anticipated regulatory approval and launch of camlipixant in 2026, the acquisition is expected to be accretive to adjusted earnings per share from 2027 and has the potential to deliver significant sales through 2031 and beyond.