Finance
GSK to buy US biotech firm IDRx for up to $1.15 billion
Published by Global Banking & Finance Review®
Posted on January 24, 2025
1 min readLast updated: January 27, 2026
Global Banking & Finance Review®
Company
Published by Global Banking & Finance Review®
Posted on January 24, 2025
1 min readLast updated: January 27, 2026
GSK will acquire IDRx for up to $1.15 billion, enhancing its cancer treatment offerings, particularly for gastrointestinal stromal tumours.
(Reuters) -British drugmaker GSK said on Monday that it would pay up to $1.15 billion to buy Boston-based biopharmaceutical firm IDRx, which is developing a treatment for a rare type of tumour.
IDRx, a privately held biotechnology firm, is developing a therapy for the treatment of gastrointestinal stromal tumours.
The deal, which comprises an upfront payment of $1 billion, will add to GSK's growing portfolio in gastrointestinal cancers.
The British drugmaker, which has been grappling with a decline in its vaccines businesses, has stepped up its efforts in cancer treatment in recent years.
"This acquisition is consistent with our approach of acquiring assets that address validated targets and where there is clear unmet medical need, despite existing approved products," GSK's Chief Commercial Officer, Luke Miels, said in a statement.
(Reporting by Yadarisa Shabong in Bengaluru; Editing by Sherry Jacob-Phillips)
The main topic is GSK's acquisition of the US biotech firm IDRx to enhance its cancer treatment portfolio.
GSK is acquiring IDRx to expand its portfolio in gastrointestinal cancers and address unmet medical needs.
IDRx is known for developing therapies for gastrointestinal stromal tumours.
Explore more articles in the Finance category
