GSK to Acquire US Biotech Firm IDRx for Up to $1.15 Billion

British pharmaceutical giant GSK has announced a strategic acquisition of Boston-based biotech firm IDRx for up to $1.15 billion. This move is part of GSK’s strategic pivot towards oncology, specifically focusing on gastrointestinal stromal tumors (GIST), a rare form of cancer. The acquisition consists of an upfront payment of $1 billion, as GSK seeks to broaden its cancer treatment portfolio amidst declining returns from its vaccines division. This acquisition is aligned with GSK's strategy of targeting validated medical needs in oncology, helping to fill treatment gaps despite existing products. The expected addition of IDRx's innovative therapies will fortify GSK's position in the market for gastrointestinal cancers. GSK's Chief Commercial Officer, Luke Miels, emphasized that the acquisition addresses significant unmet medical needs.