30th Mar 2015 13:36
LONDON (Alliance News) - GlaxoSmithKline PLC said Monday that it has reached an agreement with the UK Department of Health to allow babies in the UK to receive its meningitis B vaccine through the National Health Service immunisation schedule.
It acquired the vaccine from Novartis International AG as part of a three-part deal it completed earlier this month, and said it has moved to rapidly conclude negotiations since.
The drugs giant has bought Novartis's global Vaccines business, excluding flu vaccines, for an initial cash consideration of USD5.25 billion, has created a consumer healthcare joint venture with the Swiss company in which Glaxo will have majority control, and has divested its oncology business to Novartis for an aggregate cash consideration of USD16 billion.
"We believe the agreement we have reached offers fair value for the NHS and allows a reasonable return for GSK to ensure that we can continue to invest in creating new treatments and vaccines," GlaxoSmithKline said in a statement Monday.
Shares in Glaxo are trading up 1.1% at 1,586.00 pence Monday.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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