Pharmacosmos Acquires G1 Therapeutics to Expand COSELA Access

A formal merger agreement has been announced by G1 Therapeutics and Pharmacosmos A/S. For about $405 million, Pharmacosmos A/S will buy all of the outstanding shares of G1 Therapeutics common stock. The deal is valued at 133% more than G1's previous 30-day volume weighted average price and 68% more than G1's closing share price on August 6, 2024. The deal has received unanimous approval from the parties' boards of directors, and it is anticipated to conclude late in the third quarter of 2024.

G1's For patients with extensive-stage small cell lung cancer (ES-SCLC), COSELA is the first and only medication licensed by the US Food and Drug Administration to reduce the likelihood of chemotherapy-induced myelosuppression when given before a regimen containing topotecan or platinum/etoposide. Pharmacosmos and G1 Therapeutics will work together to realise their common goal of expanding and quickening COSELA's accessibility for all eligible ES-SCLC patients.

G1 provides Pharmacosmos, which has complementary experience in commercialising haematology and supportive care products, a strong global commercial presence, and substantial resources to maximise the penetration of COSELA into the ES-SCLC market, with a well-established commercial, sales, and medical platform. By working together, the two companies will increase COSELA's availability and maximise their commercial reach with oncologists.

Better and wider access to this crucial medication for cancer patients, together with a sizable premium to shareholders, are two ways in which the purchase adds substantial value to G1's stakeholders. Tobias S. Christensen, President and CEO of Pharmacosmos A/S, highlights how the purchase is disruptive and how COSELA expands the company's line of cutting-edge medicines.