GlaxoSmithKline will invest £21 million ($34 million) and its considerable scientific expertise in a new joint venture that will develop and produce new vaccines for seasonal, pandemic and pre-pandemic use in China. GSK will initially take a 40 percent stake in the joint venture with Shenzhen Neptunus taking 60 percent and investing £31 million. But Glaxo will buy a majority interest in the JV within two years.
For Glaxo the deal marks a major entry into a crucial emerging vaccine market. It will also combine both companies' expertise at developing new vaccines, a booming market around the world.
"GSK will provide access to its proprietary adjuvant system which helps to improve efficiency and optimize production by increasing the number of vaccine doses that can be produced using a smaller amount of antigen," Glaxo said in a statement. "Shenzhen Neptunus will provide additional local manufacturing capacity and R&D expertise. Both companies will provide further investment in manufacturing."
- read the GSK release