Pharma BD Deal Intelligence
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Full analysis, sources & comparables →GSK has agreed to acquire BELLUS Health in a $2 billion deal that will give the British drugmaker a Phase 3 candidate for refractory chronic cough. The primary…
GSK said on Tuesday it had agreed to acquire Canada's BELLUS Health for $2 billion, adding a late-stage cough drug to the British drugmaker's pipeline as it…
CALM-2 Phase 3 of BLU-5937 (camlipixant) in refractory chronic cough: ACTIVE_NOT_RECRUITING; estimated primary completion 2026-06-11, study completion…
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GSK agreed to acquire BELLUS Health for $14.75/share in cash, total equity value ~$2.0B. Adds Phase 3 camlipixant, a selective P2X3 antagonist for refractory chronic cough, positioned as late-phase rival to Merck's gefapixant. Closed June 2023. Post-close review (2026): the camlipixant Phase 3 program remains on track — CALM-1 (NCT05599191) and CALM-2 (NCT05600777) are both active-not-recruiting, with CALM-1 primary completion estimated Dec 2025 and CALM-2 mid-2026 per ClinicalTrials.gov. The original competitive thesis has strengthened: lead P2X3 rival gefapixant (Merck) received a second FDA Complete Response Letter on Dec 21, 2023, leaving camlipixant as the most advanced unpartnered path to a first U.S.-approved refractory-chronic-cough therapy.
| Deal | Year | Value | Outcome |
|---|---|---|---|
| GSK plc / Bellus Health Inc. (this deal) | 2023 | $2.0B | — |
| GSK plc / SmithKline Beecham | 2000 | $12.0B | 79 |
| GSK plc / Pfizer Inc. | 2018 | $0.0M | 77 |
| GSK plc / Novartis AG | 2014 | $16.0B | 76 |
| GSK plc / Hansoh Pharmaceutical Group Co. Ltd. | 2023 | $1.7B | 74 |
| GSK plc / Nuvalent, Inc. | 2026 | $10.6B | 70 |
| GSK plc / Sierra Oncology Inc. | 2022 | $1.9B | 70 |
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