Business
GSK expands deal with China’s Zhifei to explore RSV vaccine collaboration
Global Banking & Finance Review®
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(Reuters) -GSK said on Thursday it had expanded its agreement with China’s largest vaccine company Zhifei to explore a potential collaboration on the British drugmaker’s respiratory
(Reuters) -GSK said on Thursday it had expanded its agreement with China’s largest vaccine company Zhifei to explore a potential collaboration on the British drugmaker’s respiratory syncytial virus (RSV) vaccine, Arexvy.
Last year, London-listed GSK said Zhifei would pay it 2.5 billion pounds ($3.18 billion) for the exclusive rights to distribute GSK’s shingles vaccine, Shingrix, in the world’s No.2 pharmaceuticals market.
GSK said on Thursday it has revised the terms on which Zhifei will commercialise Shingrix in China to 2034.
Under the revised agreement, Zhifei has also agreed to engage exclusively with GSK to explore a potential collaboration on Arexvy, with an initial term of 10 years.
The companies expect that Zhifei will purchase volumes of Shingrix, phased over time, with a potential total value to GSK of 2.3 billion pounds ($2.93 billion) over the six-year period from 2024 to 2029.
($1 = 0.7860 pounds)
(Reporting by Yadarisa Shabong in Bengaluru; Editing by Savio D’Souza and Rashmi Aich)
A vaccine is a biological preparation that provides active acquired immunity to a particular infectious disease. It typically contains an agent that resembles a disease-causing microorganism.
A pharmaceutical company is a business that develops, produces, and markets drugs or medications for use as medications. They may also engage in research and development of new drugs.
Collaboration in business refers to two or more parties working together towards a common goal, sharing resources, knowledge, and expertise to achieve mutual benefits.
Investment is the act of allocating resources, usually money, in order to generate income or profit. It can involve purchasing assets such as stocks, bonds, or real estate.
A partnership is a business arrangement in which two or more individuals share ownership and the responsibilities of managing a company, as well as the profits and losses.
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