Aiming to expand its hepatology portfolio, UK pharma major GSK (LSE: GSK) yesterday announced that it has entered into an agreement to acquire Boston Pharmaceuticals’ lead asset, efimosfermin alfa.
Efimosfermin is a Phase III-ready, potential best-in-class, investigational specialty medicine to treat and prevent progression of steatotic liver disease (SLD). Under the agreement, GSK will pay $1.2 billion upfront, with potential for additional success-based milestone payments totalling $800 million. Boston Pharma previously in-licensed the FGF21 analogue - also known as BOS-580 - from Novartis (NOVN: VX) in 2020.
The purchase comes as investor worries about the strength of GSK’s drug pipeline have weighed on the share price over the past year, even as its financial results last month beat expectations. It launched a rare £2 billion share buyback in February.
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