Two of the world’s largest pharmaceutical groups have agreed to create a new, jointly controlled company to develop and sell their combined portfolios of HIV medicines.
On 16 April, GlaxoSmithKline (GSK) and Pfizer announced that between them they would contribute 11 market-leading therapies including Combivir, Kivexa and Selzentry/Celsentri, along with an additional six medicines now being tested on patients (including four compounds in phase II development).
The new company will be launched with initial gross assets of around US$380 million, annual sales of US$2.4 billion, operating profits of US$1.3 billion and a 19% market share. GSK will initially hold an 85% stake in the new company, with Pfizer holding the remaining 15%.
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