Rochester,NY 9/1/2009 11:39:42 PM
Human Genome Sciences Inc. HGSI, Buyout From Glaxo Seems Unlikely In Near-Term
Human Genome Sciences Inc.
Human Genome Sciences Inc.'s stock has risen sharply in recent days amid speculation that partner GlaxoSmithKline Plc will move to acquire it. But with a key drug facing a critical trial point, now might not be the right time for the British drug giant to strike.
Rockville, Md.-based Human Genome and Glaxo are partners on a promising new lupus treatment, Benlysta, and Human Genome holds royalty rights to some Glaxo pipeline drugs. That puts Glaxo at the head of the table should interest in a deal stir.
But amid the speculation, Human Genome shares have run rapidly higher and made the company pricier for Glaxo to acquire. And critical data on Benlysta is due in November, making it risky for Glaxo to commit to a deal right now.
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