ARTICLE | Company News
Two months after announcing it would pay $5.1 billion for Tesaro Inc., GlaxoSmithKline plc (LSE:GSK; NYSE:GSK) has partnered with Merck KGaA (Xetra:MRK) in another deal to bolster its immuno-oncology pipeline.
GSK is paying the German pharma €300 million ($343.6 million) up front for rights to bintrafusp alfa (M7824), a bifunctional fusion protein that targets PD-L1 and traps TGFB for a series of cancers. Merck is eligible for €500 million ($570.6 million) in milestones tied to data for the compound, plus €2.9 billion ($3.3 billion) in regulatory and commercial milestones to bring the total deal value to €3.7 billion ($4.2 billion)...