EU: GlaxoSmithKlin sells two vaccines for €1B

GlaxoSmithKline has sold two travel vaccines to a Danish biotechnology company for almost €1 billion (US$1.11 billion) as it refocuses on its most profitable and innovative products, reported The Financial Times. 

The UK drugmaker announced the decision to relinquish the brands, acquired from rival Novartis in 2015 as part of an asset swap that secured the Swiss company’s vaccines business, “supports GSK’s strategic intent to increase focus and reinvest in growth assets, innovation and a simplified supply chain in its vaccines business.”

GSK announced in December that it would split into a standalone pharmaceuticals and vaccines business and a separate consumer health joint venture with Pfizer, giving up on its current diversified corporate model. 

On Monday, October 21, it announced the divestment of travel vaccines Rabipur, sold as Rabavert in the US, for the prevention of rabies, and Encepur for the prevention of tick-borne encephalitis, to Bavarian Nordic. The Danish company specialises in the research, development, and manufacture of cancer immunotherapies and vaccines for infectious diseases.

Full Content: Financial Times

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