GlaxoSmithKline (GSK) has entered into an agreement to form a Joint Venture (JV) with Shenzhen Neptunus Interlong Bio-Technique (Shenzhen Neptunus), focused on developing and manufacturing influenza vaccines for the Chinese market.
The alliance will develop and manufacture influenza vaccines for China, Hong Kong and Macau. This will include vaccines for seasonal, pre-pandemic and pandemic influenza. It is expected that these vaccines will become available over the next few years.
The former will provide access to its proprietary adjuvant system which helps to improve efficiency and optimize production by increasing the number of vaccine doses that can be produced using a smaller amount of antigen. The latter will provide additional local manufacturing capacity and R&D expertise. Both companies will provide further investment in manufacturing.
The former will take a 40 percent stake in the JV for a contribution of cash and assets equivalent to US$34.4 million. The latter will take a 60 percent stake in the JV for a contribution of cash and assets equivalent to US$50.1 million.
Under the terms of the agreement, GSK is expected to purchase additional shares and obtain a majority equity interest within the next two years.
Completion of the transaction is expected in the fourth quarter of 2009, subject to local regulatory approval.
Share this: 
Del.icio.us |
Email This | 
Printer Friendly
