- GSK and Zhifei’s lucrative vaccine distribution deal.
- Shingrix sales target doubled.
- GSK’s profitable Haleon stake sale.
GSK, a FTSE 100 company, and Zhifei, China’s largest vaccine manufacturer, have struck a lucrative deal for exclusive distribution rights to the shingles vaccine.
The pharmaceutical conglomerate informed shareholders on Monday that the distribution agreement for Shingrix, starting January 1, 2024, is valued at £2.5 billion for the first three years.
GSK’s statement: “The partnership accelerates and supports GSK’s commitment to doubling global Shingrix sales to over £4 billion by 2026.”
The statement further reveals, “Zhifei has granted GSK the right of first refusal to be their exclusive partner for any co-development and commercialization of an RSV vaccine for older adults in China, in accordance with the terms of the strategic partnership.”
This paves the way for potential collaboration on Arexvy, pending approval in China.
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Luke Miels, GSK’s Chief Commercial Officer, said, “This collaboration aligns with our strategic focus on developing products with a substantial and lasting degree of uniqueness.” It considerably expands Shingrix eligibility for Chinese adults and lets us add Arexvy, our innovative RSV vaccine, to the alliance.
Last week, the company reported a significant profit following the sale of a stake in consumer healthcare spin-off Haleon.
GSK informed shareholders that it had raised approximately £885.6 million through the sale of 270 million Haleon shares at 328p each, reducing its ownership stake in the business from 10.3 percent to 7.4 percent.
Pfizer and GSK each kept around one-third of Haleon after its July split, with the former owning 12.9%.
GSK shares opened Monday’s trading at 1,515.60p, reflecting a 1.08 percent increase.
