Pfizer, GSK to create HIV-focused company
NEW YORK Pfizer and GlaxoSmithKline announced Thursday that they would create a “new world-leading” HIV company focused on research, development and commercialization of medicines for HIV, saying the new company would have a 19% share in the market. GSK will have an 85% equity interest in the company, and Pfizer will have 15%. The announcement did not indicate whether they had chosen a name for the new company.
Pfizer and GlaxoSmithKline announced Thursday that they would create a “new world-leading” HIV company focused on research, development and commercialization of medicines for HIV, saying the new company would have a 19% share in the market. GSK will have an 85% equity interest in the company, and Pfizer will have 15%. The announcement did not indicate whether they had chosen a name for the new company.
“Today marks a definitive step by GSK to renew our focus and deliver more medicines, more efficiently, to people living with HIV/AIDS,” GSK CEO Andrew Witty said in a statement. “At the core of this specialist business is a broad portfolio of products and pipeline assets, which can be more effectively leveraged through the new company’s strong revenue base and dedicated research capability.”
The new company will have a portfolio of 11 drugs already on the market, including Pfizer’s Selzentry (maraviroc) and GSK’s Combivir (lamivudine and zidovudine) and Kivexa (lamivudine and abacavir), which does not have approval in the United States. It will also have six drugs in development, including four in Phase 2 trials.
“By combining Pfizer’s and GlaxoSmithKline’s complementary strengths and capabilities, we are creating a new global leader in HIV and reaffirming our ongoing commitment to the treatment of the disease,” Pfizer CEO Jeff Kindler said in a statement. “With the strength of the companies’ current HIV products, as well as the complementary fit of Pfizer’s HIV pipeline and GSK’s global distribution capabilities, the new company is well-positioned to bring new and improved medicines to patients with more speed and efficiency.”