Feb 25 (Reuters) – GSK on Wednesday agreed to pay $950 million in cash for Canadian biopharmaceutical company 35Pharma Inc, which is developing a medicine for pulmonary hypertension.
The deal marks GSK’s second major acquisition under new CEO Luke Miels, after it agreed to buy RAPT Therapeutics for $2.2 billion in January.
GSK will acquire 35Pharma’s in-development drug to treat pulmonary hypertension, a life-shortening disease marked by high blood pressure in the lungs, helping the company expand its respiratory portfolio.
The British drugmaker earlier this week agreed to a $1 billion deal to acquire global rights to develop Frontier Biotechnologies’ two small interfering RNA therapies targeting kidney diseases.
(Reporting by Prerna Bedi in Bengaluru; Editing by Mrigank Dhaniwala)
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