Australia markets closed
  • ALL ORDS

    7,249.70
    +27.20 (+0.38%)
     
  • ASX 200

    7,048.60
    +23.80 (+0.34%)
     
  • AUD/USD

    0.6437
    +0.0006 (+0.09%)
     
  • OIL

    90.77
    -0.94 (-1.02%)
     
  • GOLD

    1,864.60
    -14.00 (-0.75%)
     
  • Bitcoin AUD

    41,910.95
    -34.45 (-0.08%)
     
  • CMC Crypto 200

    579.66
    +0.90 (+0.15%)
     
  • AUD/EUR

    0.6085
    +0.0003 (+0.05%)
     
  • AUD/NZD

    1.0725
    -0.0051 (-0.48%)
     
  • NZX 50

    11,296.43
    +118.40 (+1.06%)
     
  • NASDAQ

    14,715.24
    +12.48 (+0.08%)
     
  • FTSE

    7,608.08
    +6.23 (+0.08%)
     
  • Dow Jones

    33,507.50
    -158.84 (-0.47%)
     
  • DAX

    15,386.58
    +63.08 (+0.41%)
     
  • Hang Seng

    17,809.66
    +436.63 (+2.51%)
     
  • NIKKEI 225

    31,857.62
    -14.90 (-0.05%)
     

Was This Acquisition a Savvy Play by This Big Pharma Stock?

Was This Acquisition a Savvy Play by This Big Pharma Stock?

Earlier this month, U.K.-based drugmaker GSK (NYSE: GSK) reached a deal to buy Canadian biotech company Bellus Health (NASDAQ: BLU) for $2 billion in cash. Should GSK's deal for Bellus Health be approved by regulatory authorities and a two-thirds majority of the latter's shareholders, the former will pick up a promising drug candidate, camlipixant, that aims to treat refractory chronic cough (RCC). Surprisingly, there are no approved therapies for RCC in the United States or the European Union.