Bellus Surges After GSK Reaches Deal
Wall Street Breakfast
Seeking Alpha
4.1 • 1K Ratings
🗓️ 18 April 2023
⏱️ 10 minutes
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Transcript
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| 0:00.0 | Welcome to Seeking Alpha's Wall Street breakfast, where we cover the top news for investors every morning. |
| 0:07.0 | Good morning. Today is Tuesday, April 18th, and I'm your host Julie Morgan. |
| 0:12.0 | Belles surge is pre-market. |
| 0:15.0 | This happening after G.S.K. reaches a deal to acquire the company for $2 billion. |
| 0:20.0 | Apple is opening its first store today in India with the second store to follow later |
| 0:26.0 | this week. The Desantis versus Disney Fight continues. Florida's governor says |
| 0:31.9 | the state legislature is taking steps to nullify any late hour |
| 0:36.2 | agreement between the special taxing district and the company. |
| 0:41.0 | Our top story. |
| 0:42.2 | G.S.K is acquiring Canadian biotech Bellis Health for $2 billion in cash. |
| 0:48.6 | The British Pharma Giant will acquire outstanding shares of Bellis for $14.75 U.S. per share in cash. |
| 0:57.2 | The per share price represents a premium of about 103% to Bellis's closing stock price on April 17th. |
| 1:05.2 | The acquisition strengthens G.S.K's specialty medicines and respiratory pipeline as it will |
| 1:10.8 | get access to the investigational drug by Bellis for chronic cough. |
| 1:15.6 | G. S. Chief Commercial Officer says the drug has the potential to be a best in class |
| 1:20.9 | treatment with significant sales potential. |
| 1:24.0 | He went on to say that the proposed acquisition compliments their portfolio of specialty |
| 1:28.9 | medicines and builds on their expertise in respiratory therapies. |
| 1:33.6 | The transaction is subject to approval by at least 66.67% |
| 1:38.5 | of the votes cast at a meeting of Belles's shareholders |
| 1:41.8 | and a majority of the votes cast by non-interested |
| 1:44.8 | shareholders. The deal which is also subject to regulatory approvals, among other |
... |
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