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BIO Notebook: GSK’s Walmsley On M&A, Merck On How Falling Valuations Are Affecting Deals

 
• By Pink Sheet Team

On the first day of the BIO International Convention, our reporters hear from industry leaders about tough financing, when to go public, and why ‘there shouldn't be 700 listed biotechs in the US.’

BIO 2023 Notebook Day 1
• Source: Shutterstock

GSK plc plans no shift in its dealmaking strategy following the US Federal Trade Commission’s attempt to block Amgen, Inc.’s $27.8bn acquisition of Horizon Therapeutics plc, CEO Emma Walmsley told a small group of reporters on 5 June, the first day of the BIO International Convention in Boston. (Also see "Industry Leaders Speculate On FTC Vs. Amgen/Horizon Fallout" - Pink Sheet, 23 May, 2023.)

Walmsley, who spoke with reporters at the site of one of GSK’s newest acquisitions, Affinivax, Inc. in Cambridge, Mass., said there is “no change to GSK’s approach to M&A...

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