Human Genome Sciences and GlaxoSmithKline have brought in PR counsel as Glaxo pursues a $2.6B hostile bid for the biotechnology company and longtime drug development partner.
HGS, based in Rockville, Md., has engaged Joele Frank, Wilkinson Brimmer Katcher to support its PR strategy under VP of corporate communications Jerry Parrott. The company went public April 19 in announcing and rejecting Glaxo’s $13-per-share offer. It has engaged legal counsel and financial advisors to explore “strategic alternatives in the best interest of shareholders.”
Glaxo and HGS have collaborated for two decades on several drugs including the lupus drug Benlysta.
U.K.-based Glaxo brought in Sard Verbinnen & Co. to support its U.S. PR. After HGS revealed the Glaxo bid on Thursday, Glaxo confirmed its unsolicited offer made April 11, which CEO Sir Andrew Witty described as the “evolution” of the relationship reflecting the “full and fair value” of HGS. The company is playing up the bid as an 81 percent premium on HGS shares.
“We are disappointed that Human Genome Sciences has rejected our offer without discussion and are confident that our offer is in the best interest of shareholders of both companies,” Witty said.
SV&C CEO George Sard heads the firm’s work for Glaxo while JFWBK CEO Joele Frank leads her firm's team for HGS.