Connect with us

Hi, what are you looking for?


Biopharma stock Bellus Health almost doubled today: find out why

Shares of Bellus Health Inc (NASDAQ: BLU) almost doubled this morning after GSK plc (LON: GSK) said it will buy the biopharmaceutical company for about $2.0 billion.

Details of the announced acquisition

The all-cash agreement values Bellus Health shares at $14.75 that translates to more than a 100% premium on their previous close.

GSK is primarily interested in Bellus for Camlipixant – its treatment for refractory chronic cough. According to Luke Miels, the Chief Commercial Officer of the British multinational:

Camlipixant has potential to be a best-in-class treatment with significant sales potential. This proposed acquisition complements our portfolio of specialty medicines and builds on our expertise in respiratory therapies.

GSK expects the takeover to be accretive to its adjusted EPS from 2027 and deliver a meaningful boost to sales through 2031 and beyond.

Deal is yet to win shareholders’ approval

The said transaction is subject to meeting customary closing conditions, including regulatory and shareholders’ approval. In the press release, Bellus CEO Roberto Bellini said:

This acquisition recognises the value of our highly selective P2X3 antagonist Camlipixant. GSK is he ideal company to rapidly bring Camlipixant to millions suffering from refractory chronic cough around the world.

The stock market news arrives nearly a month after the Canadian drug development company reported $76.1 million in net loss for 2022.

GSK left its full-year and medium-term guidance for profit and revenue unchanged on Tuesday. Unlike Bellus Health shares, GSK stock ended marginally down today.

The post Biopharma stock Bellus Health almost doubled today: find out why appeared first on Invezz.

Enter Your Information Below To Receive Free Trading Ideas, Latest News And Articles.

    Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!

    You May Also Like

    Latest News

    Rep. Jennifer Wexton (D-Va.) announced on Tuesday that she has been diagnosed with Parkinson’s Disease. “If there’s one thing that Democrats and Republicans can...

    Latest News

    After Dianne Feinstein announced she’d contracted the shingles in early March, her staff said she planned to return to the Senate within a matter...


    A U.S. District Court judge has ruled that Elizabeth Holmes, founder and CEO of the disgraced blood-testing company Theranos, cannot remain free on bail...

    Latest News

    SEOUL, South Korea — When a group of American lawmakers arrived in South Korea for meetings with government and military officials, President Yoon Suk-yeol...

    Disclaimer:, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2022 All Rights Reserved.