Wednesday, December 12, 2018


Banner Content
A scientist mixes chemicals inside the lab at the GlaxoSmithKline Plc facility in Collegeville, Pennsylvania.

Eric Thayer | Bloomberg | Getty Images
A scientist mixes chemicals inside the lab at the GlaxoSmithKline Plc facility in Collegeville, Pennsylvania.

Tesaro shares surged more than 60 percent in premarket trading Monday after GlaxoSmithKline agreed to buy the cancer treatment company for $75 per share, or about $5.1 billion.

Bloomberg reported last month that Tesaro was exploring the opportunity of a sale. Tesaro’s shares have suffered losses after it shared disappointing results on Nov. 9 for treatment of small cell lung cancer.

The deal announced Monday was unanimously approved by Tesaro’s board. GlaxoSmithKline expects the deal to close in the first quarter of 2019.

0 Comments

Leave a Comment

Advertisement

Predator 21 x