GSK, a global biopharma company with a commercial hub in Philadelphia and a manufacturing site in Upper Merion, recently announced it will purchase BELLUS, a Canadian late-stage biopharmaceutical company, for approximately $2 billion.
GSK will pay in cash $14.75 per share of common stock.
BELLUS works to help patients suffering from refractory chronic cough (RCC). The purchase will give GSK access to camlipixant, a potential treatment for adult patients with RCC currently in phase III development.
RCC is a cough that persists for more than eight weeks despite treatment for underlying conditions or where there is no identifiable underlying cause. It affects an estimated 10 million people globally, with two-thirds of patients women between 50 and 60 years old.
The condition impacts the quality of life of patients suffering from depression, urinary incontinence, pain, rib fractures, social withdrawal, and loss of sleep.
Camlipixant is an investigational, twice-daily oral P2X3 receptor antagonist for the treatment of RCC.
“Patients suffering from severe forms of refractory chronic cough can experience over 900 coughs daily, resulting in quality-of-life issues,” Luke Miels, GSK chief commercial officer, said. “Camlipixant, a novel, highly selective P2X3 antagonist, has the potential to be a best-in-class treatment with significant sales potential.”
The transaction is subject to regulatory approval.