BELLUS Health (BLU) Stock

BELLUS Health Inc (TSX:BLU) said its shareholders overwhelmingly have approved a US$2 billion takeover by GSK PLC (LSE:GSK, NYSE:GSK). The late-stage biopharmaceutical firm said in a statement that almost 100% of shareholders at a special meeting voted in favor of the US$14.75 per share offer.

U.K.-based GSK is buying Canadian biotech Bellus Health for $2 billion. The purchase will include a promising drug candidate for treating chronic cough.

Bellus' lead therapy, camlipixant, is being tested against refractory chronic cough. The company is a clinical-stage biotech with no marketed therapies.

Bellus Health (BLU) gets an offer to be acquired by pharma bigwig, GSK for an approximate total equity value of $2 billion. The stock is up 99%, following the news.

11:55am: Bellus Health (TSX:BLU), The Lion Electric Company shares make big gains  BELLUS Health Inc (Bellus Health (TSX:BLU)) shares shot up 99% to $19.33 on Tuesday after the late-stage biopharmaceutical company announced that it has agreed to be acquired by GSK PLC (LSE:GSK, NYSE:GSK) for US$14.75 per share in cash.   As well, shares of The Lion Electric Company (TSX:LEV) shares continued to move higher Tuesday, up 19% to $3.13 following a 12% gain on Monday, as the manufacturer of all-electric medium and heavy-duty vehicles said it officially introduced its new manufacturing factory in Mirabel, Quebec, which will produce lithium-ion batteries for medium and heavy-duty vehicles.

BELLUS Health and GSK have agreed on a $2 billion buyout agreement. Through this deal, GSK will acquire a late-stage chronic cough medication that could be worth billions in peak sales.

GSK added to a series of recent takeovers Tuesday with the $2 billion acquisition of Bellus Health. But BLU stock and GSK stock diverged.

Here are some of the biggest movers on Tuesday:

GSK PLC (LSE:GSK, NYSE:GSK) has paid around £1.6bn for Bellus Health (TSX:BLU) Inc, a Canada-based, late-stage biopharmaceutical company which specialises in respiratory treatments. The pharmaceuticals giant said the deal further strengthens specialty its medicines and respiratory pipeline with camlipixant, a highly selective P2X3 antagonist and potential best-in-class treatment for refractory chronic cough.