GO
Loading...

Enter multiple symbols separated by commas

Glaxo to Buy Biotech Domantis for $450 Million

GlaxoSmithKline agreed to buy privately owned biotech company Domantis, a specialist in developing a new generation of antibody drugs, for 230 million pounds ($452.8 million).

Europe's biggest drugmaker said Domantis would become part of its biopharmaceuticals drug discovery unit while continuing to operate from laboratories in Cambridge, England.

The deal is the latest in a string of recent biotech acquisitions by large pharmaceutical companies eager to boost their pipelines of new medicines.

Contact U.S. News

  • CNBC NEWSLETTERS

    Get the best of CNBC in your inbox

    Please choose a subscription

    Please enter a valid email address
    To learn more about how we use your information,
    please read our Privacy Policy.

Don't Miss

U.S. Video

  • CEO discuss the 'Buffett factor'

    John Stumpf, Wells Fargo chairman & CEO; Kenneth Chenault; American Express chairman & CEO; Ginni Rometty, IBM chairman & CEO; and Muhtar Kent, Coca-Cola chairman & CEO, discuss their relationships with Warren Buffett and marvel at just how easy it's been to communicate with him.

  • Rometty on Watson: He never stops learning

    IBM CEO Ginni Rometty talks Watson, and how it's going to help people make decisions. It never stops learning, she says. Rometty also discusses the company's dividend.

  • Why Buffett bought more IBM

    Berkshire CEO Warren Buffett addresses his purchase of more IBM shares and allegations of predatory lending at Clayton Homes.