Share Prices & Company Research

Market News

01 Nov 2021 | 10:35

GlaxoSmithKline denies interest in Aurinia

(Sharecast News) - British drugs group GlaxoSmithKline has denied speculation it is interested in acquiring Canada's Aurinia Pharmaceuticals.

The Mail on Sunday reported at the weekend that the blue chip was preparing a bid for Aurinia, a specialist in autoimmune drugs. The newspaper's report followed an article last month by Bloomberg, which said US drugs firm Bristol Myers Squibb was also interested in Aurinia.

The takeover rumours have helped Aurinia's share price rise by around 52% over the last month, giving it a market value of around $4.2bn.

But on Monday, a GSK spokesperson looked to halt the speculation, telling Reuters that the Mail on Sunday report was "not true".

Shares in Nasdaq-listed Aurinia were largely flat in pre-market trading as at 1030 GMT. GSK was ahead nearly 2% at 1,532.0p in London.

Aurinia's drug Lupkynis, which was approved by the US Food and Drug Administration earlier this year, is used to treat kidney inflammation caused by Lupus. GSK has a similar drug, Benlysta, patents on which are due to expire in the next few years.
Get in touch today
Join Redmayne Bentley
Talk to us now about opening a new account or transferring your account from another provider
0113 243 6941
Get in touch today
Contact your local office
Contact your local office to find out more
The value of your investments and the income from them may go down as well as up, and you could get back less than you invested.
Continuing our Personal Service: View our Latest COVID-19 Update: 17th May 2022
We use cookies on this site to improve your experience and help us provide you with a better website. An explanation of the cookies we use and their purpose can be found within our Cookie Policy. Your continued use of this site means you consent to the use of cookies.