Please login to the form below

Not currently logged in
Email:
Password:

GSK buys Shenzhen Neptunus stake

GSK is set to become the sole owner of joint venture company Shenzhen GSK-Neptunus Biologicals

GlaxoSmithKline (GSK) has entered into an agreement to acquire the remaining 51 per cent stake of Shenzhen Neptunus Interlong Bio-Technique Co in the joint venture (JV) company, Shenzhen GSK-Neptunus Biologicals Co (GSKNB), for £24m ($39m) in cash. 

Established in June 2009, the GSKNB alliance focuses on the development and manufacture of seasonal and pandemic influenza vaccines for China, Hong Kong and Macau. GSK increased its share from 40 per cent to 49 per cent in August 2010.

Jean Stephenne, chairman and president GSK Biologicals, said: "The decision to acquire the remaining equity interest in GSKNB reflects the importance GSK places in expanding our product offering in China and making new vaccines available to improve public health in this fast growing emerging market. GSKNB employees have made good progress preparing the site for the production of influenza vaccines and we look forward to continuing this work."

After approval of this agreement by the Peoples Republic of China's authorities, GSK will become the sole owner of GSKNB. 

14th June 2011

Share

COVID-19 Updates and Daily News

Featured jobs

PMHub

Add my company
integrated medhealth communication

imc group is a leading, independent global healthcare communication group that enables client’s brands to connect with healthcare professionals, payers...

Latest intelligence

Top 10 ways to leverage the Impetus InSite Platform® to (virtually) launch your brand
The Impetus InSite Platform® can be used to facilitate virtual and hybrid engagement at all stages of the product lifecycle. Here, we share 10 of the most popular ways to...
Employee wellbeing in creative agencies: three tips to get you started
Paul Hutchings, founder of fox&cat, and new friend, Welfy, a workplace wellbeing training firm, discuss the importance of collaboration...
Managing unhelpful pressure in your creative agency: the human approach
Paul Hutchings, founder of fox&cat, answers the questions: what does it mean to be human in 2021? Are we putting ourselves under too much pressure?...