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GlaxoSmithKline wins takeover bid for Human Genome

LONDON (AP) – U.K. drugmaker GlaxoSmithKline secures its takeover of Human Genome Sciences after agreeing to pay a higher price for the U.S. biotechnology company.

GSK said Monday it would pay $14.25 per share for Human Genome Sciences, up from its previous offer of $13 per share.

Rockville, Maryland-based HGS agreed on the takeover following a prolonged battle in which it had put up a “poison pill” defense which would have diluted holdings if anyone attempted to acquire 15 percent or more of its stock without board approval.

Under the agreement, GSK says it gains full ownership of the drugs Benlysta for lupus, albiglutide for Type 2 diabetes and darapladib which is a possible treatment for atherosclerosis.

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