GSK shares fall 8% after €4.5bn cancer drug deal

British pharmaceutical giant GlaxoSmithKline (GSK), which employs 1,700 in Ireland, has agreed to buy US cancer specialist Tesaro for $5.1bn (€4.5bn), while also selling its Indian Horlicks business to Unilever for $3.8bn.

GSK shares fall 8% after €4.5bn cancer drug deal
Tue, 04 Dec, 2018 - 05:30
Ben Hirschler and Pádraig Hoare

British pharmaceutical giant GlaxoSmithKline (GSK), which employs 1,700 in Ireland, has agreed to buy US cancer specialist Tesaro for $5.1bn (€4.5bn), while also selling its Indian Horlicks business to Unilever for $3.8bn.

Shares in GSK fell almost 8% as investors said the Tesaro deal was overpriced.

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