GlaxoSmithKline boosted its pipeline of drugs today with a $3bn (€2.44bn) deal for its American partner on a potential blockbuster medicine.

GlaxoSmithKline will take its $2.6bn (€2bn) bid for Human Genome Sciences direct to shareholders this week after its takeover offer was rejected last month by the US biotech group’s board.

Pharmaceutical giant GlaxoSmithKline said its $2.6bn (€1.98bn) bid for long-time partner Human Genome Sciences was “full and fair” and it was the only obvious owner for the US biotechnology firm.

Drugs giant GlaxoSmithKline said it was disappointed that an offer worth £1.6bn (€1.94bn) for US-based Human Genome Sciences (HGS) has been rejected.

US stocks jumped again today following news that CIT had struck a financing deal that will keep the troubled commercial lender out of bankruptcy.