LONDON (dpa-AFX) - GSK plc (GSK, GSK.L) has entered into an agreement to acquire Boston Pharmaceuticals' BP Asset IX Inc. for $2 billion in total cash consideration, comprising a $1.2 billion upfront payment and up to $800 million in success-based milestone payments. Additionally, GSK will assume responsibility for milestone payments and tiered royalties owed to Novartis Pharma AG for efimosfermin.
Efimosfermin is a phase III-ready, investigational specialty medicine with the potential to be best-in-class for treating and preventing the progression of steatotic liver disease (SLD). Under the agreement, GSK will pay $1.2 billion upfront, with the possibility of an additional $800 million in milestone payments.
GSK will account for the transaction as a business combination. The deal is subject to customary conditions, including regulatory clearances under the Hart-Scott-Rodino Act in the US.
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