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GSK agrees $5.1bn price for cancer drug company

The UK’s GlaxoSmithKline has agreed to buy US oncology company Tesaro for $5.1bn, as 'long overdue' consolidation in the pharmaceutical sector continues apace.

  • By Mike Turner
  • 03 Dec 2018

GSK has offered to buy Tesaro for $75 per share in cash, a 110% premium on the company’s 30 day volume weighted average price of $35.67. The purchase price includes Tesaro’s debt.

“Consolidation in the pharma sector is long overdue,” said one head of loans. “We had Pfizer earlier ...

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