/PRNewswire/ – GlaxoSmithKline plc today announced that ViiV Healthcare, the global specialist HIV company majority owned by GSK, with Pfizer Inc. and Shionogi Limited as shareholders, has completed two previously announced transactions with Bristol-Myers Squibb to acquire its late-stage HIV R&D assets and its portfolio of preclinical and discovery stage HIV research assets. The completion of both transactions follows antitrust approval by the relevant regulatory authorities in the US, with the integration process beginning immediately.
Dominique Limet, CEO, ViiV Healthcare, said: “As a result of these transactions, ViiV Healthcare now has one of the most robust HIV pipelines in the industry. The assets that we have acquired complement our existing portfolio and could lead to new medicines and combinations addressing a broad range of treatment and prevention needs of people living with HIV.”
Under the terms of the transactions, ViiV Healthcare acquired late-stage HIV R&D assets from Bristol-Myers Squibb for an initial upfront payment of $317 million followed by development and first commercial sale milestones of up to $518M, and tiered royalties on sales. ViiV Healthcare also acquired Bristol-Myers Squibb’s preclinical and discovery stage HIV research business for an upfront payment of $33 million, followed by development and first commercial sales milestones of up to $587M, and further consideration contingent on future sales performance.
ViiV Healthcare has acquired:
Source: GSK
The deal will see Microsoft use its capabilities in computational services, cloud computing and artificial intelligence to support drug discovery and development at UCB.
The planned closures come as GSK has agreed to sell its cephalosporins antibiotics business to Sandoz, a division of Swiss pharma firm Novartis, for as much as US$500m.
“The launch of these new formulations provides the nutritional market with much-needed alternative coating systems that address clean label consumer preferences and are easy to implement,” says Kelly Boyer, vice president film coatings at Colorcon.