GSK GSK plc

By Michael Susin

GSK PLC said Tuesday that it has reached an agreement to buy the late-stage biopharmaceutical company BELLUS Health Inc. for $14.75 a share in cash, representing a total equity value of around $2.0 billion.

The pharmaceutical giant said the deal will provide access to camlipixant, a treatment for refractory chronic cough currently in phase III development.

Following the anticipated regulatory approval and launch of camlipixant in 2026, the acquisition of the Canada-based company is expected to be accretive to adjusted earnings per share--which strips out exceptional and other one-off items--from 2027 and has the potential to deliver significant sales through 2031 and beyond, it added.

"This proposed acquisition complements our portfolio of specialty medicines and builds on our expertise in respiratory therapies," Chief Commercial Officer Luke Miels said.

Write to Michael Susin at michael.susin@wsj.com

(END) Dow Jones Newswires

April 18, 2023 02:33 ET (06:33 GMT)

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