1107 GMT - GSK is among the most mentioned companies across news items over the past six hours, according to Factiva data, after the British pharma giant said it has bought London- and San Francisco-based Aiolos Bio for up to $1.4 billion. The deal follows a flurry of acquisitions by big pharmaceutical companies of up-and-coming biotechs. On Monday, the Wall Street Journal reported Swiss giant Novartis is said to be close to finalizing the purchase of Cytokinetics. GSK could very well continue its row of acquisitions from 2023 in this year, Goodbody Research analyst Adam Barker says in a research note. The purchase of Aiolos Bio bring respiratory and inflammatory treatment AIO-001, exclusively licensed from Chinese biotech Jiangsu Hengrui Pharmaceuticals, which retains the rights to the drug in China. "We think the trend of large pharmaceutical companies increasingly finding novel innovation in China is also set to continue," Barker says. GSK will pay $1.0 billion up front and potentially up to an additional $400 million depending on certain regulatory milestones being met. At 1051 GMT, shares are up 0.9% at 1,563.00 pence. Dow Jones & Co. owns Factiva. (christian.moess@wsj.com)

 

(END) Dow Jones Newswires

January 09, 2024 06:22 ET (11:22 GMT)

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