On December 3, GSK announced the acquisition of Tesaro for US $5.1 billion and obtained all development and commercial rights for the oral PARP inhibitor Zejula (niraparib).GSK CEO Emma Walmsley said that the acquisition has strategic implications for the company's oncology product pipeline layout.
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Zejula is currently approved in the United States and Europe for the treatment of adult patients with recurrent ovarian cancer who have responded to platinum-based chemotherapy (without regard to patient BRCA mutation or biomarker status).In addition, a clinical trial to evaluate Zejula alone or in combination with other drugs as first-line therapy for all intention-to-treat patients, code-named PRIMA, is also in progress.The results of the study are expected to be published in the second half of 2019.
GSK believes that PARP inhibitors provide important opportunities for the treatment of many types of tumors.In addition to ovarian cancer, Zejula is currently being studied as a single agent or in combination with other drugs in lung, breast, and prostate cancers. Combination drugs include Tesaro's own anti-PD-1 antibody (Dostarlimab, formerly known as TSR-042).
Tesaro has multiple oncology assets in addition to Zejula, including antibodies against PD-1, TIM-3, and LAG-3 targets.
GSK Chief Scientific Officer and President of R & D Hal Barron said: "I think PARP inhibitors are important drugs, but its efficacy on cancer patients has not received due attention."" Zejula's sales in the third quarter were $63 million, and analysts estimate annual revenue to be 2.$400 million, which will increase to $1 billion by 2023.There are three other PARP inhibitors on the market, including AstraZeneca and "Lynparza (olaparib) of Merck, with a third-quarter revenue of 1.For $6.9 billion, Clovis Oncology's Rubraca (rucaparib) sold about $23 million over the same period.
GSK CEO Emma Walmsley said: "The acquisition of Tesaro will accelerate our pharmaceutical business and accelerate the construction of our oncology pipeline and business blueprint while providing new scientific capabilities.This mix will support our goal of long-term sustainable growth and be consistent with our capital allocation priorities.We look forward to working with the talented Tesaro team to bring valuable new drugs to patients."
but there are also doubts about this acquisition.Graham Doyle, analyst at Liberum Capital, said that even if GSK needs to strengthen its pipeline, "Given the current status of Tesaro's competition with other PARP inhibitors and the relative lack of its existing oncology pipeline, the acquisition is not necessarily a good move.GSK shares fell 7% immediately after the acquisition news.
Under the agreement, GlaxoSmithKline will acquire Tesaro at $75 per share, equivalent to the company's closing price premium of about 62% on November 30 (Friday).Last month, Tesaro's stock rose sharply, and it was reported that the company was considering selling the assets after learning that "Dostarlimab and anti-TIM-3 antibody TSR-022 combination therapy is used for the clinical outcome of patients with non-small cell lung cancer who have undergone PD-1 treatment but the disease progresses.
Johnson & Johnson acquired exclusive rights to Zejula's indications for prostate cancer in 2016 and the transaction may be worth as much as 4.$500 million, the former also made $50 million equity investment in Tesaro.