By Gokhan Ergocun
ISTANBUL (AA) - GlaxoSmithKline (GSK) acquired US-based biopharmaceutical Sierra Oncology for £1.5 billion ($1.9 billion), according to a joint press release on Wednesday.
Sierra Oncology is focused on targeted therapies for the treatment of rare forms of cancer, the statement read.
Luke Miels, chief commercial officer of GSK, said: “Sierra Oncology complements our commercial and medical expertise in haematology."
He said Sierra Oncology's momelotinib drug has the potential to treat patients with anaemia suffering from myelofibrosis, a rare type of bone marrow cancer.
GSK said sales are expected to begin in 2023.