Business Analysis
The year 2025 may turn out to be a good one for mergers and acquisitions (M&A). Two weeks into the new year, merger activity is picking up steam. After the surprise announcement of the mergers between JCPenney and Sparc Group, and between Constellation and Calpine last week, GSK and IDRx followed suit on Jan. 13, adding cheer to otherwise gloomy financial markets.
The British drugmaker will pay $1.15 billion for privately held biopharmaceutical firm IDRx, according to a company statement issued on Jan. 13. IDRx is a clinical-stage company that develops intelligently designed precision therapies for treating gastronomical tumors (GIST). The acquisition includes IDRX-42, a highly selective KIT tyrosine kinase inhibitor (TKI) designed to treat GIST….