Done Deal: Human Genome Acquired by GSK
British pharmaceutical giant removes most of Rockville biotech’s board.
British pharmaceutical giant GlaxoSmithKline announced Friday it has completed its $3.6 billion acquisition of Rockville-based biotechnology firm Human Genome Sciences.
HGS agreed to the deal July 16 at a sale price equal to $14.25 a share.
The ownership transition has not been a smooth one, according to reports.
HGS’s board rejected a $2.6 billion takeover bid by Glaxo in April. The board felt the bid, equal to $13 a share, was too low.
HGS’s lupus drug Benlysta is being developed jointly with Glaxo. The Rockville company’s stock has struggled over the past year due to the high costs of the rollout and poor initial reviews of the drug.
GSK shares (symbol: GSK) were trading on the New York Stock Exchange at $46.76 (+0.47/1.01 percent) at 12:30 p.m. on Friday.