GSK to buy rare cancer drug developer IDRx for up to £1bn GSK has agreed to buy US biopharmaceutical business IDRx in a deal worth up to $1.15billion (£1billion).
IDRx is developing a treatment for gastrointestinal stromal tumours (GIST), a rare cancer that develops in the digestive system and is diagnosed in 80,000 to 120,000 new patients every year.
He added: 'Combining our experience to date with GSK's expertise in GI cancers, global clinical development capability, and strong commercial presence in oncology will help to accelerate the development of this novel medicine for patients.'.
However, GSK noted that IDRx's experimental therapy - IDRX-42 - was showing signs of preventing tumours from growing.
Takeover: GSK has agreed to buy American biopharmaceutical business IDRx.
