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GSK to buy Sierra Oncology for $1.9 billion

04/13/2022

Less than a minute

2022.04.13 09:41

GSK to buy Sierra Oncology for $1.9 billion
GSK logo is seen in this illustration taken on January 17, 2022. REUTERS/Dado Ruvic/Illustration

(Reuters) – Britain’s GlaxoSmithKline (NYSE:GSK) has agreed to buy California-based biopharmaceutical company Sierra Oncology (NASDAQ:SRRA) in a deal valued at $1.9 billion, the companies said on Wednesday.

Shareholders in Sierra, which focuses on targeted therapies for the treatment of rare forms of cancer, will receive $55 per share of common stock in cash, GSK said.

04/13/2022

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