GlaxoSmithKline has struck a deal to buy ID Biomedical in an all-stock deal valued at $1.4 billion. The acquisition gives GSK operations in Canada and the US gearing up to produce 75 million doses per year of fluviral vaccine. GSK officials said the acquisition will help the company prepare for a global flu pandemic. This deal also marks another big step in the shakeout of the world's vaccine makers, with Novartis in hot pursuit of a Chiron acquisition.
"GSK has moved quickly over the past few months to meet the growing demand for flu vaccines worldwide and to transform GSK into one of the leading global influenza vaccine manufacturers," said Jean-Pierre Garnier, CEO of GSK. "The proposed acquisition of ID Biomedical is a unique strategic opportunity to increase current capacity of classic flu vaccines, to provide us with increased capacity for next generation flu vaccines under development and to help GSK prepare for the threat of a flu pandemic."
- read this press release for more