GSK and Daiichi Sankyo to form joint venture (5504Y)
02 March 2012 - 6:00PM
UK Regulatory
TIDMGSK
RNS Number : 5504Y
GlaxoSmithKline PLC
01 March 2012
Issued: Thursday 1(st) March 2012, London UK and Philadelphia,
US
GSK and Daiichi Sankyo vaccines joint venture to become largest
vaccines company in Japan
GlaxoSmithKline (GSK) today announced that it has signed an
agreement with Daiichi Sankyo Co., Ltd. to form a Joint Venture
(JV) which is expected to create the number one vaccines company in
Japan.
The JV will hold the development and commercial rights for
already existing preventative vaccines from both parent companies.
It will supply globally recommended vaccines to help protect people
of all ages in Japan including Human Papillomavirus (HPV) vaccine,
Rotavirus vaccine, Seasonal flu vaccine, Mumps vaccine, Diphtheria
Pertussis (DTP) vaccine, and Measles Rubella (MR) vaccine. The
business will be expanded in the future as new vaccines in the JV
development pipeline are approved.
Both companies will sell their respective vaccines into the JV
at agreed upon prices and expect sales synergies from the JV. The
companies will have an equal stake in the joint venture and will
split the JV's profits 50/50 with a portion going toward funding
ongoing capital needs of the JV. There will be a minimal total cash
investment of 100 million Yen (approximately GBP800,000) split
equally between the two companies to cover the start up capital
requirements of the JV.
Christophe Weber, President Designate of GlaxoSmithKline
Vaccines, commented, "This collaboration marks another step in our
strategy to build our presence in key growth markets and will
create the first and largest company dedicated solely to vaccines
in Japan. We are very pleased to be partnering with Daiichi Sankyo,
a highly regarded company and an established leader in Japan. Both
companies have strong track records in commercialisation and, in
combination, will create further significant economies of scale in
the development and distribution of vaccines in the Japanese
market."
Completion of the transaction is expected in the 3(rd) quarter
of 2012, subject to local regulatory approvals.
V A Whyte
Company Secretary
1 March 2011
GlaxoSmithKline - one of the world's leading research-based
pharmaceutical and healthcare companies - is committed to improving
the quality of human life by enabling people to do more, feel
better and live longer. For further information please visit
www.gsk.com
GlaxoSmithKline Enquiries:
UK Media enquiries: David Mawdsley +44 (0) 20 8047 (London)
5502
Stephen Rea +44 (0) 20 8047 (London)
5502
Sarah Spencer +44 (0) 20 8047 (London)
5502
David Daley +44 (0) 20 8047 (London)
5502
US Media enquiries: Kevin Colgan +1 919 483 2839 (North Carolina)
Melinda Stubbee +1 919 483 2839 (North Carolina)
Sarah Alspach +1 919 483 2839 (Washington,
DC)
Jennifer Armstrong +1 919 483 2839 (Philadelphia)
Analyst/Investor enquiries: Sally Ferguson +44 (0) 20 8047 (London)
5543
Tom Curry + 1 215 751 5419 (Philadelphia)
Gary Davies + 44 (0) 20 8047 (London)
5503
Jeff McLaughlin + 1 215 751 7002 (Philadelphia)
Ziba Shamsi + 44 (0) 20 8047 (London)
3289
Cautionary statement regarding forward-looking statements
Under the safe harbor provisions of the U.S. Private Securities
Litigation Reform Act of 1995, GSK cautions investors that
any forward-looking statements or projections made by GSK,
including those made in this announcement, are subject
to risks and uncertainties that may cause actual results
to differ materially from those projected. Factors that
may affect GSK' s operations are described under 'Risk
Factors' in the 'Business Review' in the company' s Annual
Report on Form 20-F for 2010.
Registered in England & Wales:
No. 3888792
Registered Office:
980 Great West Road
Brentford, Middlesex
TW8 9GS
This information is provided by RNS
The company news service from the London Stock Exchange
END
JVESSSEDFFESEID
Gsk (LSE:GSK)
Historical Stock Chart
From Jun 2024 to Jul 2024
Gsk (LSE:GSK)
Historical Stock Chart
From Jul 2023 to Jul 2024