It has taken a few months and some hand-wringing, but Human Genome Sciences (NASDAQ:HGSI) has agreed to a $3.6 billion offer from GlaxoSmithKline (NYSE:GSK) after a three-month stand-off courtship. It’s yet another example of the deal-making pharmaceuticals are engaged in to keep their drug development pipelines flowing, but there are also a few other ways […]
GlaxoSmithKline‘s (NYSE:GSK) $2.6 billion offer to buy Human Genome Sciences (NASDAQ:HGSI) has enticed holders of 474,029 shares of the Maryland biotechnology company to tender their stock for the sale. The remaining shareholders now have the rest of June to consider GSK’s offer, which amounts to $13 per share. GSK is now extending its offer until […]
The future looks bright for the integrated specialty pharmacy model – for health systems, providers, and most importantly, for patients.
If you expected the merger and acquisition standoff between GlaxoSmithKline (NYSE:GSK) and Human Genome Sciences (NASDAQ:HGSI) to come to a resolution next week, think again. GSK plans to replace HGS’ entire 12-member board with its own slate of nominees, Reuters reports, citing “sources familiar with the situation.” That process will almost certainly extend beyond the […]
Not all Human Genome Science (NASDAQ:HGSI) shareholders agree with the company position that GlaxoSmithKline‘s (NYSE:GSK) $2.6 billion purchase offer is insufficient. An HGS shareholder has filed a suit against the board and asked a court to temporarily restrain the Maryland company from using a “poison pill” to fend off the hostile takeover attempt. In the […]
GlaxoSmithKline (NYSE:GSK) has made a change in its offer to buy Human Genome Sciences (NASDAQ:HGSI), but it’s not sweetening the price. The British pharmaceutical giant announced that it is amending the conditions of its cash offer to acquire HGS for $13 per share — nearly $2.6 billion. HGS last week adopted a “poison pill” to […]
Unless GlaxoSmithKline (NYSE:GSK) sweetens its offer to buy Human Genome Sciences (NASDAQ:HGSI), a hostile takeover will come with a bitter taste. In rejecting GSK’s nearly $2.6 billion offer today, HGS’ board of directors also adopted a “poison pill.” If the British pharma giant gets a 15 percent or greater stake in HGS without board approval, […]
As technology advances, AI-powered tools will increasingly reduce the administrative burdens on healthcare providers.
GlaxoSmithKline‘s (NYSE:GSK) forced Human Genome Sciences’ (NASDAQ:HGSI) hand and now the biotechnology company must make a decision about its future on a much faster timetable than it would have liked. GSK today formally commenced its offer to buy HGS at $13 per share, about $2.6 billion, and the British pharmaceuticals giant said shareholders should be […]
GlaxoSmithKline (NYSE:GSK) stood ready to field questions about its first quarter financial earnings but everyone seemingly wanted to ask CEO Andrew Witty about the pharmaceutical giant’s $2.6 billion bid to buy Human Genome Sciences (NASDAQ:HGSI). Witty obliged. “We absolutely believe that we are the compelling owner for this business,” Reuters reported Witty saying in a […]
GlaxoSmithKline‘s (NYSE:GSK) courtship of Human Genome Sciences (NASDAQ:HGSI) started with a phone call and then a letter on April 11. GSK CEO Andrew Witty told his counterpart at HGS, Tom Watkins, that the company would offer $13 per share to acquire the Maryland biotechnology company. On that day, HGS stock closed at $7.55 per share. […]
Human Genome Sciences‘ (NASDAQ:HGSI) response to GlaxoSmithKline‘s (NYSE:GSK) unsolicited $2.6 billion buyout offer is succinct and direct: It’s not enough. The Maryland company, a longtime drug partner to GSK, disclosed today that the British pharma giant offered to buy the company for $13 per share. That price is an 81 percent premium to HGS’s $7.17 […]
Closing cancer health equity gaps require medical breakthroughs made possible by new funding approaches.
GlaxoSmithKline (NYSE:GSK) and drug partner Human Genome Sciences (NASDAQ:HGSI) have started clinical trials on a different version of lupus drug Benlysta that would be easier to administer to patients. Benlysta is currently administered by intravenous infusion. The companies have started a phase 3 clinical trial to test a once-a-week injectable version of the drug. Studies […]
The lupus drug Benlysta is a perfect example of the new blockbuster drug: expensive products targeting ever more specific segments of the patient population. And as GSK and other pharmaceutical companies continue working on biologics, expect more of this to come. Years before Benlysta’s approval as the first new lupus treatment in more than 50 years, GSK signed a development and commercialization agreement with Human Genome Sciences in which the two companies would share equally in the costs and net proceeds that come from it.
Lupus drug Benlysta has been approved by the Food and Drug Administration becoming the first new lupus drug approved in 56 years. The intravenous drug was developed by Maryland-based Human Genome Sciences and GlaxoSmithKline.
Healthcare company chief executives took home the biggest paychecks -- a median of $10 million -- of any industry covered by the recent Wall Street Journal CEO Compensation Study, according to the news organization's Health blog. CEOs from Thermo Fisher Scientific, Boston Scientific and Johnson & Johnson were among the top 20 in the list. Unitedhealth Group CEO Stephen Hemsley got the biggest raise last year.