Job Cuts at Bellus Health Following GSK’s $2 Billion Acquisition
March 22, 2024
In the wake of GSK’s $2 billion acquisition of Bellus Health, an undisclosed number of Bellus employees are facing layoffs. The integration process, as described by a GSK spokesperson, involves evaluating the capabilities of both companies to decide the future direction, inevitably leading to job redundancies. Despite the need for clarity on the exact number of affected staff, former Bellus CEO Roberto Bellini indicated that most employees would conclude their roles by March 31, as he advocated for over 40 individuals seeking new opportunities. The acquisition closed in June 2023 and was primarily for Bellus’s camlipixant, a P2X3 antagonist in late-stage trials for chronic cough, expected to launch in 2026. GSK’s purchase at a significant premium highlighted the value seen in Camlipixant, especially after a past trial failure that had previously sunk Bellus’s share price.
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[Source: Fierce Biotech, March 22nd, 2024]
