GlaxoSmithKline agreed to buy Sierra Oncology for $1.9 billion in a deal that will boost the British pharmaceutical giant’s cancer drug pipeline
GlaxoSmithKline PLC has agreed to buy Sierra Oncology Inc. for $1.9 billion, in a deal that will boost the British pharmaceutical giant’s cancer drug pipeline.
The deal centers on a drug called momelotinib, which treats patients with a rare type of bone marrow cancer called myelofibrosis who have developed anemia. Glaxo expects the treatment, which Sierra plans to submit to the Food and Drug Administration for review in the coming weeks, to start generating sales next year.
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