Issue Date: June 15, 2009
GSK, Chinese Firm In Flu Vaccine Venture
GlaxoSmithKline and Shenzhen Neptunus Interlong Bio-Technique have formed a joint venture to make flu vaccines for the Chinese market. GSK will pay $34 million in cash and assets for a 40% stake in the venture, with Neptunus putting up $50 million for the rest. GSK has the right to buy a majority interest in the joint venture within the next two years. Neptunus has knowledge of the local flu market, and GSK contributes its adjuvant technology and vaccine development experience.
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