Human Genome agrees to GlaxoSmithKline takeover

Published July 16, 2012 10:15pm ET



TRENTON. N.J. (AP) — U.K. drug maker GlaxoSmithKline has secured its takeover of longtime partner Human Genome Sciences after agreeing to pay more, a move to expand GSK’s drug portfolio in crucial areas: biologic drugs and treatments for the hundreds of millions of people with diabetes and heart disease.

The two companies said Monday that GSK will pay $3.6 billion, or $14.25 per share, for the U.S. biotechnology company. Directors of both companies have approved the deal.

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