GlaxoSmithKline agrees to buy Sierra Oncology for 1.9 billion dollars.

Written by on April 13, 2022

British pharmaceuticals producer GlaxoSmithKline has agreed to buy late-stage biopharmaceutical company Sierra Oncology.

GlaxoSmithKline said on Wednesday that it would pay 55 dollars per share of common stock in cash, representing an approximate total equity value of 1.9 billion dollars.

The acquisition is to be carried out through a one-step merger in which the outstanding shares of Sierra Oncology will be cancelled and converted into the right to receive 55 dollars per share in cash.

In addition, new GlaxoSmithKline reaffirmed its full-year 2022 guidance and long-term sales targets.

Seun Fakorede

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