PR exec to helm Human Genome after $3.6B pickup
Human Genome Sciences, based in Rockville, Md., agreed to the acquisition last month after GSK raised its bid price from $13 a share.
Connelly had served as GSK’s president for North America pharmaceuticals since February 2009, and previously led Eli Lily as president of U.S. operations.
A native of San Juan, Puerto Rico, Connelly earned a bachelor’s degree in economics and marketing and graduated from Harvard University’s Advanced Management Program in 2000. Among her many accolades, she has been named one of “The World’s 100 Most Powerful Women” by Forbes and one of Fortune Magazine’s “50 Most Powerful Women in Business.”
Under the agreement, GSK gains full ownership of two experimental drugs plus Human Genome’s only marketed medicine, Benlysta. That’s the first new drug approved in about 50 years for lupus, a chronic immune disorder.
GSK expects the deal to add to core earnings from next year and to produce at least $200 million in cost savings by 2015.
In a statement, the pharmaceutical and consumer goods group says all outstanding shares were bought for $14.25 each in cash.