Glaxo to Acquire Human Genome Sciences (HGSI) for $14 a Share

British pharmaceutical giant GlaxoSmithKline (GSK) is expected to announce an agreement to acquire Rockville, Maryland – based Human Genome Sciences Inc.  (HGSI) for about $2.8 billion, or $14 a share, sweetening the offer from its previous $13 per share bid, Reuters reported, citing two people familiar with the situation.

The proposed cash purchase, which would give Glaxo full control over marketing Benlysta, the first new treatment for systemic lupus in more than 50 years, may be announced as soon as Monday, Reuters reported on its website.

Human Genome closed to $13.58 in Nasdaq composite trading on July 13.

Ticker’s 52wk Range: $6.51 – $23.84.

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