GSK buys liver drug from Boston Pharmaceuticals for up to $2 billion
The new drug, licensed years ago by Novartis AG to closely held Boston Pharmaceuticals, should have benefits beyond any GLP-1 therapy patients are taking, GSK said.
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GSK shares rose less than 1% in London trading. The stock has been roughly flat since the start of the year.
The medicine, called efimosfermin, could help livers damaged both by a build-up of fat or from alcohol use, according to GSK. For now it's in development for damage caused by fat — a disease known by the acronym MASH.
Mid-stage trial data on efimosfermin showed a once-a-month injected dose rapidly reversed liver fibrosis and stopped it progressing.
Obesity Overlap
While GSK isn't directly tackling obesity, the deal fits with its investment in inflammatory conditions that often overlap with excess weight. Another drug it has in development for liver disease could potentially be combined with efimosfermin, it said.
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There are more than 30 medicines in clinical trials, according to Bloomberg Intelligence analysts. Lilly's and Novo's obesity and diabetes blockbusters are some of the most advanced. Lilly also entered into a separate licensing deal for the disease with South Korea's OliX Pharmaceuticals Inc. earlier this year.
GSK agreed to pay $1.2 billion upfront for efimosfermin, with potential for additional milestone payments totaling $800 million. The new drug is expected to launch in 2029.
Boston Pharmaceuticals licensed the medicine from Novartis in 2020, with GSK now on the hook for success-based milestone payments and tiered royalties to the Swiss drugmaker.
--With assistance from Lisa Pham.
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