GlaxoSmithKline Buys Seattle Biotech Firm for $300 Million

GlaxoSmithKline will buy biotechnology company Corixa for $4.40 a share in cash, or $300 million, the British drugmaker said after the bell Friday. GlaxoSmithKline, which had $37 billion in worldwide sales last year, is interested in Corixa's MPL adjuvant technology, which can be used in vaccines, including one for a leading cause of cervical cancer, the company said.

Pittsburgh Business Times (http://www.bizjournals.com/pittsburgh/stories/2005/05/02/daily1.html)