GSK Said to Be Nearing $1 Billion Deal for Biotech Company IDRx

GSK Plc is in talks to buy biotech company IDRx, people with knowledge of the matter said, a deal that would see the British drugmaker further boost its growing oncology portfolio.

The purchase could value privately owned IDRx at as much as $1 billion, said the people, who asked not to be identified because the information is private. The negotiations are still ongoing and there is no guarantee that a deal will be agreed. The Financial Times first reported on the potential deal.

GSK and IDRx declined to comment.

IDRx is developing an experimental drug for gastrointestinal stromal tumor, ...