Drugmaker GSK buys US firm focused on gastro cancer

LONDON, Jan 13 (AFP) : British pharmaceutical company GSK on Monday said it had agreed to buy a US company that specialises in the treatment of rare gastrointestinal cancer GIST.

GSK said in a statement that it had agreed to acquire Boston-based IDRx for up to $1.15 billion.

The biopharmaceutical company's drug in development, IDRX-42, is designed to treat gastrointestinal stromal tumours (GIST).

"We are excited by the early data from IDRX-42," said Tony Wood, chief scientific officer at GSK.