GlaxoSmithKline’s £1.5bn Sierra Oncology deal comes after pressure to boost its pipeline from Elliott
The UK drug company GlaxoSmithKline has agreed a £1.5bn deal to buy a US cancer treatment developer as it tries to fend off pressure from activist shareholder Elliott Management.
The deal will give Britain’s second-largest pharmaceutical company access to California-based Sierra Oncology’s momelotinib, a drug being tested on anaemic patients with a type of bone marrow cancer called myelofibrosis.
