GSK has said it will acquire Bellus Health for approximately $2bn in a deal that is set to expand the British drugmaker’s specialty medicines and respiratory pipeline.
The acquisition will grant GSK access to the Canadian biotech’s experimental drug, camlipixant, currently in phase 3 development for refractory chronic cough (RCC).
An estimated ten million people globally are affected by RCC, a persistent cough that lasts for more than eight weeks despite guideline based treatment. There are currently no approved medicines for the condition in the US and EU.
Current clinical data shows that by selectively inhibiting P2X3 receptors, camlipixant may reduce cough frequency with a relatively low incidence of dysgeusia – the taste disturbance associated with other medicines that broadly target the P2X2/3 receptor.
Bellus initiated a pair of phase 3 trials evaluating camlipixant in recent months, with data from the studies expected in the second half of 2024 and 2025.
Luke Miels, chief commercial officer, GSK said: “Patients suffering from severe forms of RCC can experience over 900 coughs daily, resulting in quality-of-life issues.
“Camlipixant, a novel, highly selective P2X3 antagonist, has the potential to be a best-in-class treatment with significant sales potential. This proposed acquisition complements our portfolio of specialty medicines and builds on our expertise in respiratory therapies.”
Under the terms of the agreement, GSK will pay $14.75 per share in cash, a 103% premium over the closing price for Bellus earlier this week. The transaction is expected to close in the third quarter of this year.
Roberto Bellini, chief executive officer of Bellus, said: “This acquisition recognises the value of our highly selective P2X3 antagonist camlipixant and validates the hard work and dedication of all the Bellus employees in advancing camlipixant to date.”
Camlipixant is up against Merck’s – known as MSD outside the US and Canada – rival RCC candidate, gefapixant. The drug, which is also a P2X3 receptor antagonist, was denied US approval at the beginning of 2022, with the US Food and Drug administration requesting additional efficacy information.
The company said it “remained committed” to advancing gefapixant for RCC at the time of the announcement, and is expected to submit the information later this year.