Date: 2011-06-14
Type of information: Company acquisition
Acquired company: Shenzhen GSK-Neptunus Biologicals Co. Ltd. (GSKNB) (China)
Acquiring company: GSK (UK)
Amount: £24 million (€ 27 million - US$39 million)
Terms: GSK announced that it has entered into an agreement to acquire the remaining 51% equity interest of Shenzhen Neptunus Interlong Bio-Technique Co. Ltd (Neptunus) in the joint venture (JV) company, Shenzhen GSK-Neptunus Biologicals Co. Ltd. (GSKNB), for a total cash consideration of £24 million. After approval of this agreement by the Peoples Republic of China’s authorities, GSK will become the sole owner of GSKNB.
Details: Established in June 2009, the GSKNB alliance focuses on the development and manufacture of seasonal and pandemic influenza vaccines for China, Hong Kong and Macau. GSK increased its equity share from 40% to 49% in August 2010. The decision to acquire the outstanding interest in the GSKNB JV reflects GSK’s intention to further expand its vaccines presence in China through the establishment of local vaccine manufacturing capability.
Related: Vaccines
