GSK signs deal to buy Canadian drug developer Bellus Health for US$2 billion

TORONTO — GSK plc has announced a deal to buy Canadian drug developer Bellus Health Inc. for US$2 billion.

Under the agreement, GSK will pay US$14.75 per Bellus share in cash.

Bellus shares closed at US$7.26 on the Nasdaq market on Monday.

Bellus is developing a treatment for refractory chronic cough which is defined as a persistent cough for more than eight weeks that does not respond to treatment for an underlying condition or is otherwise unexplained.

The acquisition requires approval by a two-thirds majority vote by Bellus shareholders.

The deal is also subject to customary conditions, including court and regulatory approvals.

This report by The Canadian Press was first published April 18, 2023.

Companies in this story: (TSX:BLU)

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