1st Apr 2026 09:18
(Alliance News) - GSK PLC and Shionogi & Co Ltd on Wednesday said the replacement of Pfizer Inc's stake in the ViiV Healthcare Ltd joint venture with an equal investment by Shionogi has been completed.
The London-based pharmaceutical firm first announced Pfizer's intention to withdraw from its ViiV investment back in January, when an agreement was reached for the New York-based pharmaceutical firm to be replaced by Shionogi.
Pfizer held a close to 12% stake in ViiV Healthcare, a London-based pharmaceutical venture specialising in HIV and AIDS treatment and prevention medicines development. It has a product portfolio of 15 prescription medicines aimed at the human immunodeficiency virus.
Following the agreement, Pfizer received USD1.88 billion and had its ViiV shares cancelled, while ViiV issued new shares for USD2.13 billion to Osaka, Japan-based Shionogi, which reached a 22% interest in ViiV.
GSK maintains its 78% majority interest in ViiV, and received a special dividend of GBP250 million as part of the change in shareholding.
Last October, the UK's National Institute for Health & Care Excellence recommended ViiV's cabotegravir, an HIV prevention injection, to be offered to those who are unable to take similar oral medicines.
GSK shares were up 2.9% to 2,123.00 pence each on Wednesday morning in London.
Shares in Shionogi closed up 4.6% to JPY3,627.00 on Wednesday in Tokyo, while Pfizer shares closed up 1.1% to USD28.08 on Tuesday in New York.
By Martin Miraglia, Alliance News reporter
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