Orchard gains GSK's rare disease gene therapy portfolio

GlaxoSmithKline plc (LSE:GSK; NYSE:GSK) said it will divest its rare disease gene therapy portfolio, including Strimvelis, to Orchard Therapeutics Ltd. (London, U.K.).

GSK will be eligible to receive undisclosed commercial milestones and royalties. The pharma will hold a 19.9% stake in Orchard and will receive a seat on its board. ...