GlaxoSmithKline has agreed to buy cancer biotech, Tesaro, for $5.1B.
Massachusetts-based Tesaro makes ovarian cancer drug, Zejula, which belongs to a class of cancer drugs called PARP inhibitors.
According to GSK, PARP inhibitors offer significant opportunities for use in the treatment of multiple cancer types. In addition to ovarian cancer, Zejula is currently being investigated for use as a possible treatment in lung, breast and prostate cancer, both as a monotherapy and in combination with other medicines.
As GSK works to refresh its R&D strategy, the Tesaro buy is its first big acquisition since pharma veteran Hal Barron joined as its chief scientific officer.
Read the press release