GSK completes divestment of rabies and tick-borne encephalitis vaccines to Bavarian Nordic
GlaxoSmithKline plc (LSE/NYSE: GSK) today announced the completion of the divestment of travel vaccines Rabipur (tradename Rabavert in the US) for the prevention of rabies, and Encepur for the prevention of tick-borne encephalitis, to Bavarian Nordic.
Consistent with the terms of the agreement first announced on October 21st 2019, GSK has received an upfront payment of EUR308 million (£263m), and in due course will receive further milestone payments for a total consideration of up to EUR955 million.
The decision to divest these brands supports GSK’s strategic intent to increase focus and reinvest in growth assets, innovation and a simplified supply chain in its vaccines business.
About Rabipur (Tradename Rabavert in US and Canada)
Rabipur is a well-established life-saving vaccine (rabies virus causes acute invariable fatal disease) with 30 years of market experience supported by extensive clinical and safety evidence and WHO pre-qualification. It is indicated both in persons bitten by suspect animals (PEP ) and non-immune subjects at risk of rabies (PrEP ).
Encepur is indicated for active immunization of high-risk populations against tick-borne encephalitis (TBE). It has unique dosing flexibility supported by proven efficacy and long-term persistence data.
GSK is a science-led global healthcare company with a special purpose: to help people do more, feel better, live longer. For further information please visit www.gsk.com.
About Bavarian Nordic
Bavarian Nordic is a Denmark-based, fully-integrated biotechnology company specializing in the research, development and manufacture of active cancer immunotherapies and vaccines for infectious diseases.
Cautionary statement regarding forward-looking statements
GSK cautions investors that any forward-looking statements or projections made by GSK, including those made in this announcement, are subject to risks and uncertainties that may cause actual results to differ materially from those projected. Such factors include, but are not limited to, those described under Item 3.D 'Principal risks and uncertainties' in the company's Annual Report on Form 20-F for 2018.