GlaxoSmithKline’s new drug deal
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Manufacturing News, Source : The Manufacturer US
Published : 11 May 2005 21:47
UK pharmaceutical maker GlaxoSmithKline has reached an agreement to acquire Corixa, a US manufacturer of vaccine additives, in a $300 million cash deal.
UK pharmaceutical maker GlaxoSmithKline has reached an agreement to acquire Corixa, a US manufacturer of vaccine additives, in a $300 million cash deal.
As part of the deal, GSK will acquire Corixa’s manufacturing plant in Hamilton, MT, which produces Monophosphoryl Lipid A (MPL), an additive used in many of GSK’s upcoming vaccines. The MPL acquisition appeared to be a key spur for the deal.
Jean Stéphenne, president of GSK Biologicals, said: “This is an important strategic deal for GSK’s vaccines division. MPL, in particular, is an important component in many of our most promising vaccines under development, including Cervarix, our candidate vaccine targeting infection with the Human Papilloma Virus (HPV), a leading cause of cervical cancer.”
“Acquisition of Corixa by GSK represents a logical step given the importance of MPL in multiple GSK vaccines,” Corixa Chief Executive Officer Steven Gillis said.
GSK also will acquire all assets related to a tuberculosis vaccine and several cancer vaccines being developed by GSK Biologicals, and which contain antigens discovered by Corixa. The takeover is expected to close during the third quarter of 2005.
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