British pharma giant GSK Plc will pay up to $2bn to buy the rights to an experimental drug to treat liver disease from US-based Boston Pharmaceuticals.
According to the company’s press release, the drug efimosfermin is ready for clinical trials and could become the world’s best treatment for fatty hepatosis, a condition characterised by the accumulation of fat in the liver as a result of metabolic disorders, excess weight or alcohol abuse.
Previous tests have shown that monthly injections of the drug effectively repair the liver and stop fibrosis.
GSK will pay $1.2bn for it immediately and up to a further $800m depending on trial results.
GSK’s capitalisation has fallen by a quarter to £54.9bn over the past 12 months, while the UK stock index has added 1.9% over the period.