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    • GSK to sell...

    GSK to sell anti-rabies vaccines Rabipur, Encepur to Bavarian Nordic for USD 1.1 billion

    Medical Dialogues BureauWritten by Medical Dialogues Bureau Published On 2019-10-22T10:00:25+05:30  |  Updated On 16 Aug 2021 1:54 PM IST

    The sale of GSK's anti-rabies treatment Rabipur and Encepur, used for the prevention of tick-borne encephalitis, to the Denmark-based biotechnology firm includes an upfront payment of 301 million euros and milestone payments of up to 495 million euros.


    New Delhi: GlaxoSmithKline will sell two travel vaccines to Bavarian Nordic for up to 955 million euros ($1.1 billion), the British firm said on Monday, as it looks to bolster its push into the lucrative cancer drug market.


    The sale of anti-rabies treatment Rabipur and Encepur, used for the prevention of tick-borne encephalitis, to the Denmark-based biotechnology firm includes an upfront payment of 301 million euros and milestone payments of up to 495 million euros.


    Chief Executive Officer Emma Walmsley has been pushing for a leaner structure since she took over in 2017 by spinning off or selling units to focus on reinvigorating GSK's pharmaceuticals business. It staged a comeback into cancer treatments with a $5.1 billion buyout of U.S. drugmaker Tesaro in December last year.


    "This agreement with Bavarian Nordic will enable us to commit greater resources to our key growth assets and to our R&D pipeline," Roger Connor, president of Global Vaccines at GSK said.


    Read Also: GSK collaborates with Lyell Immunopharma on cancer cell therapies


    GSK, which is preparing to separate its consumer-facing products and drug businesses, acquired the vaccines from Novartis in 2015 as part of a broad asset-swap in which GSK sold its oncology business to the Swiss drugmaker.


    The drugmaker reported revenue of 5.89 billion pounds ($7.61 billion) from its vaccines segment in 2018.


    London-listed GSK said that both vaccines will continue to be manufactured at its Marburg site in Germany until full production is transferred to Bavarian Nordic within five years.


    Read Also: Amid cancer scares GSK recalls heartburn drug Zantac as a precautionary measure

    anti-rabies vaccinesBavarian Nordicbiotechnology firmEncepurGlaxoSmithKlineGSKGSK billion dealgsk vaccines saleNovartisrabiesrabipur
    Source : Reuters

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    Medical Dialogues Bureau
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      Medical Dialogues Bureau consists of a team of passionate medical/scientific writers, led by doctors and healthcare researchers.  Our team efforts to bring you updated and timely news about the important happenings of the medical and healthcare sector. Our editorial team can be reached at editorial@medicaldialogues.in. Check out more about our bureau/team here

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