GSK takes control of China vaccines venture
pharmafile | June 15, 2011 | News story | Manufacturing and Production, Research and Development, Sales and Marketing | China, GSK, Shenzhen Neptunus Interlong Bio-Technique Co, vaccines
GlaxoSmithKline is increasing its footprint in China, shelling out £24 million ($39 million) to buy the remaining stake in a key joint venture.
GSK will acquire Shenzhen Neptunus Interlong Bio-Technique Co’s 51% equity interest in the companies’ joint venture vehicle Shenzhen GSK-Neptunus Biologicals Co (GSKNB).
Set up in June 2009, GSKNB develops and manufactures seasonal and pandemic influenza vaccines for China, Hong Kong and Macau.
GSK increased its equity share from 40% to 49% in August last year, and will now become the sole owner if Chinese authorities approve the deal.
“The decision to acquire the remaining equity interest in GSKNB reflects the importance GSK places in expanding our product offering in China and making new vaccines available to improve public health in this fast growing emerging market,” said Jean Stephenne, president of GSK Biologicals.
GSK says it has licensed more vaccines in China than any other global manufacturer, with more than 100 million packaged at its Shanghai facility.
“[This] announcement represents an expansion of GSK’s long-term commitment to vaccine supply, manufacturing and development in China,” said John Lepore, GSK China’s vice president, biologicals and corporate.
Before this, GSK’s investment in China was already valued at $400 million, with five manufacturing sites, offices in Shanghai, Beijing and Hong Kong and around 5,000 local staff.
Eighteen months ago it linked up with Chinese biotech Jiangsu Walvax to develop and manufacture paediatric vaccines – including measles, mumps, and rubella (MMR) – for use in China.
In addition to vaccines, GSK’s main interests are prescription and OTC medicines, and consumer healthcare.
Last December it bought local firm Nanjing MeiRui Pharma Co for $70 million, acquiring a portfolio which includes urology and allergy products, such as Prostat for enlarged prostate and SheNiTing for overactive bladder syndrome.
Adam Hill
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