After being ordered to pay $3billion in a groundbreaking and controversial US court case, GlaxoSmithKlein are taking a long term investment approach with a company acquistion.
Human Genome Sciences Purchased: Several reports indicate today (including one from Forbes magazine) that GlaxoSmithKline (NYSE: GSK) has bought Human Genome Sciences (NASDAQ: HGSI) for $2.8 billion.
The two companies have battled over the price for several months.
GSK believes it needs the latest biotech products and research to offset the slow growth that has hit a number of big pharma companies as many of their blockbuster drugs come off patent.
To close the transaction, GSK increased its offer to $14 a share from $13, writes Douglas A. McIntyre for Reuters.
Forbes notes how cardiovascular disease is the largest cause of death in the world. Of particular interest in GlaxoKleinSmith’s acquistion, is HSGI’s work developing cures for heart disease prevention that are aimed to reduce inflammation in arteries, that many scientists believe causes cholesterol plaque to rupture inside the artery wall, causing heart attacks and strokes and stroke reduction.
GlaxoKleinSmith‘s acquistion of HSGI is viewed as a long term investment where R&D will yield a good return on investment in time.
[I have friends who are academic activists, strongly against human genome dna data collection. So, for the pros and cons on Human Genome Science to the environment as well as being largely unregulated area of law in the USA, also go to Ornl.Gov for more]
My thoughts: muscle repair protein accelerator-bricks. There you go. :)
Photo Caption: The double helix structure of DNA, discovered 15 years after William Astbury‘s first x-ray photographs. Photograph: Deco Images II/Alamy. Guardian.Co.UK – Science.
If you’re an athlete at the Olympics, watch your gene pool too!
~Posted by Horiwoodblog, Aotearoa New Zealand, Polynesia Asia-Pacific. 17.7.12~