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GlaxoSmithKline to buy remaining shares of R&D company

London-based pharmaceutical giant GlaxoSmithKline, which has operations in Lancaster and York counties, announced Tuesday it plans to acquire remaining shares of German biotechnology firm Cellzome.

The $99 million cash deal is expected to close by May 21, according to a news release from GlaxoSmithKline. The company, also known as GSK, currently has about 20 percent equity interest in Cellzome.

Cellzome is a privately owned company with laboratories in Cambridge, England, and Heidelberg, Germany. Those facilities will become part of GSK’s research and development organization, the company said.

“The acquisition of Cellzome adds significantly to our scientific capabilities and capacity to characterize drug targets and provides the opportunity to further enhance GSK’s ability to bring medicines to patients in a more effective manner,” John Baldoni, senior vice president in GSK’s platform and technology science division, said in a statement.

GSK trades its shares on the New York Stock Exchange under the symbol GSK.

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