5th Dec 2024 09:19
(Alliance News) - GSK PLC on Thursday said it has expanded its shingles vaccine collaboration with Chongqing Zhifei Biological Products Ltd in China, including an extended term length.
The London-based pharmaceutical and biotechnology firm said it has revised the terms of Zhifei's commercialisation of GSK's shingles vaccine, Shingrix, in mainland China. Zhifei is Chin's largest vaccine company by revenue.
The agreement has been extended beyond the original three-year period, which was scheduled to end in 2026, for a further eight years through to 2034.
The two companies expect Zhifei to potentially purchase GBP2.3 billion of Shingrix from GSK over the six year period from 2024 to 2029.
GSK said Zhifei also has agreed to exclusively engage in discussions of a potential collaboration on the commercialisation of its respiratory syncytial virus vaccine, Arexvy, subject to regulatory approval, for an initial term of ten years.
Chief Commercial Officer Luke Miels said: "This revised agreement with Zhifei puts our collaboration on a sustainable footing, managing challenges in the macro environment in the near-term, and helping us to reach even more Chinese people with our innovative adult vaccines over the long-term."
Shares in GSK were down 0.2% to 1,353.002 pence in London on Thursday morning.
By Michael Hennessey, Alliance News reporter
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