GlaxoSmithKline to acquire Human Genome Sciences for $3.6 billion

LONDON — British drug maker GlaxoSmithKline will acquire development partner Human Genome Sciences for $3.6 billion, GSK said Monday.

The deal, worth $14.25 per share, would give GSK full ownership of the lupus drug Benlysta (belimumab), as well as albiglutide, an experimental drug for diabetes, and darapladib, an experimental heart disease drug.

"We are pleased to have reached a mutually beneficial agreement with HGS on friendly terms and believe the combination of GSK and HGS represents clear financial and strategic logic for both companies and our respective shareholders," GSK CEO Andrew Witty said. "The transaction meets GSK's strict financial criteria for acquisitions and, we expect, will deliver significant returns over the long term."

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