GlaxoSmithKline (GSK) Insists it is the Best Owner for Human Genome Sciences, Inc. (HGSI)
4/25/2012 7:34:55 AM
Drugmaker GlaxoSmithKline said on Wednesday its $2.6 billion bid for long-time partner Human Genome Sciences was "full and fair" and it was the only obvious owner for the biotechnology firm. After releasing disappointing first-quarter results, Britain's biggest drugmaker insisted its $13 a share offer was generous and Chief Executive Andrew Witty played down the possibility of increasing the price. "We absolutely believe that we are the compelling owner for this business," he told reporters in a conference call.