Was This Acquisition a Smart Move for GlaxoSmithKline?
Last month, GlaxoSmithKline (NYSE: GSK) announced that it had reached an agreement to purchase United States-based Sierra Oncology for a total of $1.9 billion.
With finalization of the deal expected in the third quarter of 2022, GlaxoSmithKline will soon own a bone marrow cancer drug candidate in late-stage clinical trials called momelotinib. The pressing question is: Will this prove to be a savvy move for the pharma company? Let's take a look at the phase 3 clinical trial results for the drug and the sales potential for GlaxoSmithKline to answer this question.
Image source: Getty Images.
Source Fool.com
