GlaxoSmithKline completes purchase of Rockville-based Human Genome Services

London-based GlaxoSmithKline has completed its purchase of the Rockville, Md., biotechnology firm Human Genome Services, reports the Baltimore Business Journal.

All outstanding shares of Human Genome were acquired for $14.25 per share in cash. … Glaxo has said the acquisition will add to earnings starting in 2013 and will result in $200 million in cost savings by 2015. [more]

The final purchase of Human Genome Services for $14.25 a share was the second offer put forward by GlaxoSmithKline: the London company had originally offered a price of $13 per share. The purchase gives GlaxoSmithKline sole possession of the drug Benlysta, developed in tandem with Human Genome Services and the first new FDA-approved drug for lupus in more than 50 years, as Technically Baltimore reported in July.