On Aug. 3, 2012, GlaxoSmithKline announced that it had completed its acquisition of Human Genome Sciences for $3.6 billion on an equity basis, or approximately $3 billion net of cash and debt.

All outstanding shares of HGS were acquired for US$14.25 per share in cash. HGS was founded in 1992 by Craig Venter, Alan Walton and Wally Steinberg.