2023-04-19 02:25:55
One of the most important players in the Quebec biopharmaceutical industry, Bellus Santé, will pass into the hands of the British giant GSK, a transaction valued at $2 billion US (approximately $2.7 billion CA).
The two companies made the announcement jointly on Tuesday morning, before the opening of the markets. To acquire Bellus and especially to benefit from its research on the development of a new treatment against coughs, the British offer to extend US$14.75 per share, or a little more than double its share price the day before.
On Monday, at Nasdaq in New York, Laval shares closed at US$7.26, up 3%. In the wake of the deal announcement on Tuesday, Bellus stock jumped more than 98%.
“This is very, very good news, reacted the big boss of Montreal Invivo, Frank Béraud. It’s not every day that you wake up with a transaction of this importance. At US$2 billion, I even think we could be talking about a record. »
AFP photo
The headquarters of GSK, in London, Great Britain, a few months before the multinational changes its name, to shorten it, in 2022.
Promising drug
Founded by entrepreneur Francesco Bellini, known for having created Biochem Pharma and Neurochem Pharma before, Bellus Santé has been dedicated for years to the development of drugs for patients suffering from “chronic refractory cough”.
Chronic refractory cough is a persistent cough that has been present for more than eight weeks and is unresponsive to treatment for the underlying conditions or is otherwise unexplained. To date, there are no approved drugs for this cough in the United States and the European Union, hence the interest of GSK.
The bosses of Bellus and GSK dumb
On Tuesday, Roberto Bellini, CEO of Bellus, and son of Francesco Bellini, did not respond to our interview requests. It was the same with his father, now chairman of the council of Bellus.
The same silence from GSK’s US headquarters in Washington, which contented itself with a written statement in which the company said it was “looking forward to meeting and getting to know the talented employees of Bellus” when the transaction is concluded”.
It is therefore impossible to know what will eventually happen to the company’s research teams in Quebec. Will they be repatriated to GSK, which closed its laboratories in Quebec a few years ago, or will they stay here?
No one knows either if the production and marketing of the treatment, once approved around 2026, will be done from Quebec, recognizes Mr. Béraud, who still remains hopeful.
In a conference call, GSK Chief Commercial Officer Luke Miels said he expects the up-and-coming drug to gain rapid adoption, translating into billions in sales a year and contributing to the company’s profits. GSK from 2027.
GSK a letter
- Activity : Pharmaceutical industry
- The head office : London
- Fondation : 2000, moment de la fusion entre Glaxo Wellcome et SmithKline Beecham
- Number of employees : 70 000
- Turnover in 2022: £29.3 billion (over CA$48.7 billion)
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