GlaxoSmithKline PLC Regulatory update - sale of Nimenrix and Mencevax (8274Q)
22 June 2015 - 9:08PM
UK Regulatory
TIDMGSK
RNS Number : 8274Q
GlaxoSmithKline PLC
22 June 2015
Issued: 22 June 2015, London UK - LSE Announcement
Regulatory update on divestment of Nimenrix and Mencevax
GlaxoSmithKline plc (LSE/NYSE: GSK) today announced it is
divesting its meningitis vaccines Nimenrix and Mencevax to Pfizer
Ireland Pharmaceuticals (a subsidiary of Pfizer Inc).
The sale follows commitments given to the European Commission
and other regulators in connection with the merger control
clearances obtained for GSK's three-part transaction with Novartis
AG, which completed on 2 March 2015. As part of the transaction,
GSK acquired Novartis's vaccines business (excluding influenza
vaccines) including the meningitis vaccines Menveo and Bexsero. In
order to satisfy regulatory clearances as part of the transaction,
GSK agreed to divest its legacy meningitis vaccines Nimenrix and
Mencevax, which are sold outside the US and achieved combined
global sales in 2014 of GBP34 million.
The agreementwith Pfizer Ireland Pharmaceuticals remains subject
to final European Commission approval, other regulatory approvals
and other customary closing conditions, which we hope to receive in
the coming months. It is expected that the sale will be completed
before the end of the year. The total consideration for the sale,
including some deferred consideration, is EUR115 million (GBP82
million).
Pfizer Ireland Pharmaceuticals is deemed, under Listing Rule
11.1.4R, to be a related party of GSK as a result of holdings of
the Pfizer group in ViiV Healthcare Limited.
The sale is a smaller related party transaction under Listing
Rule 11.1.10R (1) and has been agreed following a confirmation from
GSK's sponsor that the terms of the sale are fair and reasonable as
far as GSK's shareholders are concerned.
GSK - 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.
GSK enquiries:
UK Media enquiries: David Mawdsley +44 (0) 20 (London)
8047 5502
Simon Steel +44 (0) 20 (London)
8047 5502
David Daley +44 (0) 20 (London)
8047 5502
Catherine +44 (0) 20 (London)
Hartley 8047 5502
Sarah Spencer +44 (0) 20 (London)
8047 5502
Claire Brough +44 (0) 20 (London)
8047 5502
US Media enquiries: Sarah Alspach +1 202 715 (Washington,
1048 DC)
Mary Anne +1 919 483 (North
Rhyne 0492 Carolina)
Melinda Stubbee +1 919 483 (North
2510 Carolina)
Jenni Ligday +1 202 715 (Washington,
1049 DC)
Karen Hagens +1 919 483 (North
2863 Carolina)
Gwynne Oosterbaan +1 215 751 (Philadelphia)
7468
Analyst/Investor Ziba Shamsi +44 (0) 20 (London)
enquiries: 8047 5543
Tom Curry + 1 215 751 (Philadelphia)
5419
Gary Davies +44 (0) 20 (London)
8047 5503
James Dodwell +44 (0) 20 (London)
8047 2406
Jeff McLaughlin +1 215 751 (Philadelphia)
7002
Cautionary statement regarding forward-looking
statements
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.
Such factors include, but are not limited to,
those described under Item 3.D 'Risk factors'
in the company's Annual Report on Form 20-F for
2014.
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
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