Big news day for Amicus, with change in GSK deal, an acquisition and restructuring
US biotech firm Amicus Therapeutics (Nasdaq: FOLD) saw its shares fall 4.2% to $2.03 by mid-morning trading on Thursday, after the company announced a raft of transformational news for the company.
Head of the list was the loss of its most important development partner, US pharma giant GlaxoSmithKline (LSE: GSK), which has largely walked away from a Fabry disease drug deal. This was followed by the announcement of an acquisition, Callidus Biopharma, and a restructuring which includes the loss of its chief financial officer.
Key highlights of revised agreement
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