GSK secures Canadian made high blood pressure drug in US$950 million deal

Under new CEO Luke Miels, GSK has been looking to make deals in areas where the science is relatively settled. Photo by Vivian Wan/BloombergArticle contentGSK PLC agreed to buy 35Pharma Inc., a biotech with an early-stage drug for pulmonary hypertension, as the United Kingdom pharma giant boosts its pipeline of promising experimental therapies.Sign In or Create an AccountEmail AddressContinueor View more offersArticle contentGSK will buy the closely held Canadian firm for US$950 million in cash, it said in a statement Wednesday.Article contentWe apologize, but this video has failed to load.Try refreshing your browser, ortap here to see other videos from our team.We apologize, but this video has failed to load.Try refreshing your browser, ortap here to see other videos from our team.Play VideoArticle contentGSK hopes the drug — called HS235 — will be effective in treating a disease characterized by high blood pressure in the lungs that can cause heart failure. The deal also boosts GSK’s small pipeline of therapies for diseases that also affect the heart and metabolic systems. The company already has a range of medicines for diseases of the lung.Article contentArticle contentGSK shares were little changed in early London trading. The stock has risen by about 20 per cent since the start of the year.Article contentPosthasteBreaking business news, incisive views, must-reads and market signals. Weekdays by 9 a.m.There was an error, please provide a valid email address.Sign UpBy signing up you consent to receive the above newsletter from Postmedia Network Inc.Thanks for signing up!A welcome email is on its way. If you don't see it, please check your junk folder.The next issue of Posthaste will soon be in your inbox.We encountered an issue signing you up. Please try againInterested in more newsletters? Browse here.Article contentNew chief executive Luke Miels is under pressure to build up GSK’s portfolio of new medicines before the patent expiry of blockbuster HIV drug dolutegravir.Article contentUnder Miels, GSK has been looking to make deals in areas where the science is relatively settled. There is already a drug on the market — Merck & Co.’s Winrevair — that uses a similar mechanism to 35Pharma’s HS235. In addition to lowering blood pressure, it’s hoped that the experimental treatment will help preserve lean mass and reduce fat through weight loss.Article contentBloomberg.comArticle contentWe apologize, but this video has failed to load.Try refreshing your browser, ortap here to see other videos from our team.Play VideoArticle contentTrending Canada's housing market suffers largest price decline among major economies, says BIS Real Estate Australia ships LNG 25,000 kilometres to Eastern Canada amid Asian slump Oil & Gas Posthaste: Canadian dollar is facing a big risk that markets seem to be overlooking News B.C. widow worried about retirement income with OAS clawbacks Family Finance Garry Marr: Mexico chaos shows it's time to start thinking of your vacation as an investment and hedge your bets Personal Finance Share this article in your social networkCommentsYou must be logged in to join the discussion or read more comments.Create an AccountSign in Join the Conversation Postmedia is committed to maintaining a lively but civil forum for discussion. Please keep comments relevant and respectful. Comments may take up to an hour to appear on the site. You will receive an email if there is a reply to your comment, an update to a thread you follow or if a user you follow comments. Visit our Community Guidelines for more information. Canada's housing market suffers largest price decline among major economies, says BIS Real Estate Australia ships LNG 25,000 kilometres to Eastern Canada amid Asian slump Oil & Gas Posthaste: Canadian dollar is facing a big risk that markets seem to be overlooking News B.C. widow worried about retirement income with OAS clawbacks Family Finance Garry Marr: Mexico chaos shows it's time to start thinking of your vacation as an investment and hedge your bets Personal Finance