Medindia

X

GSK Inks Deal With Chinese Biotech To Make Flu Vaccines

by VR Sreeraman on  June 10, 2009 at 1:26 PM Corporate News   - G J E 4
Pharmaceutical giant GlaxoSmithKline has said it had sealed a joint venture with Chinese biotechnology group Shenzhen Neptunus focused on making flu vaccines for China and neighbouring territories.
 GSK Inks Deal With Chinese Biotech To Make Flu Vaccines
GSK Inks Deal With Chinese Biotech To Make Flu Vaccines
Advertisement

"The alliance will develop and manufacture influenza vaccines for China, Hong Kong and Macau," GSK said in a statement on Tuesday.

Advertisement
"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," added the British company.

GSK will take a 40 percent stake in the joint venture at a cost of 21 million pounds (24 million euros, 34 million dollars) in cash and assets. Shenzhen Neptunus' 60 percent stake will cost the equivalent of 31 million pounds.

Completion of the deal was expected in the fourth quarter of 2009, subject to regulatory approval.

Source: AFP
SRM
Advertisement

Post your Comments

Comments should be on the topic and should not be abusive. The editorial team reserves the right to review and moderate the comments posted on the site.
User Avatar
* Your comment can be maximum of 2500 characters
Notify me when reply is posted I agree to the terms and conditions

You May Also Like

Advertisement
View All

More News on: