GSK to purchase remaining stake in Shenzhen Neptunus

Published: 14-Jun-2011

Focuses on development of seasonal and pandemic flu vaccines in region


GlaxoSmithKline (GSK) plans to acquire the remaining 51% held by Shenzhen Neptunus Interlong Bio-Technique (Neptunus) in a Chinese joint venture, Shenzhen GSK-Neptunus Biologicals (GSKNB), in a move to expand its presence in China.

The UK pharmaceuticals manufacturer said it would pay £24m (US$39m) in cash for the stake.

GSK initially took a 40% stake in the joint venture for £21m in June 2009 and raised this to 49% last August.

The GSKNB alliance focuses on the development and manufacture of seasonal and pandemic influenza vaccines for China, Hong Kong and Macau.

GSK claims to have licensed more vaccines in China than any other global manufacturer and has packaged more than 100 million vaccines at its Shanghai facility.

‘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,’ said Jean Stephenne, chairman and president GSK Biologicals.

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