April 16, 2009
GSK, Pfizer Team for Combined HIV Drug Company
Pharmaceutical companies GlaxoSmithKline (GSK) and Pfizer announced April 16 that they will form a new drug company focused solely on the research, development and commercialization of HIV medications. Under the deal, GSK will initially own 85 percent of the yet-unnamed company while Pfizer will own 15 percent.
According to an article in The Business Journal, the new company will hold 19 percent of the HIV drug market, with a product lineup that will include Combivir, Epzicom and Selzentry.
In addition, the effort will launch with six medicines in development, including four compounds already in Phase II trials.
“HIV remains a global threat with increasing incidence and viral resistance. This new company will be better placed to meet these challenges and improve access to treatments,” GSK CEO Andrew Witty said in a statement.
“With the strength of the companies’ current HIV products, as well as the complementary fit of Pfizer’s HIV pipeline and GSK’s global distribution capabilities, the new company is well positioned to bring new and improved medicines to patients with more speed and efficiency,” added Pfizer CEO Jeff Kindler. “The new company can reach more patients and accomplish much more for the treatment of HIV globally than either company on its own.”
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