GSK to buy US cancer drug firm IDRx for up to $1.15bn
Massachusetts-based company is working on new treatments for gastrointestinal cancers
GSK has struck a deal worth up to $1.15bn (£950m) to acquire a Massachusetts-based developer of rare cancer therapies, in an attempt to bolster its expanding oncology business.
GSK, Britain’s second-biggest drugmaker behind AstraZeneca, said the acquisition of IDRx, based in Plymouth near Boston, would help it target a “major gap in the current standard of care” related to gastrointestinal cancers.
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