GSK Strikes $3.06 Billion Shingles Vaccine Deal With China's Zhifei — Update
By Michael Susin
GSK said that Chongqing Zhifei Biological Products has agreed to purchase the company's shingles vaccine Shingrix under an exclusive agreement in a deal valued at 2.5 billion pounds ($3.06 billion).
The British pharmaceutical giant on Monday said that Zhifei will have exclusive rights to import and distribute Shingrix in China for an initial three-year period starting January 1, with the option of an extension.
The company said that volumes are expected to be phased over the period as demand is anticipated to accelerate steadily.
"The partnership supports and accelerates GSK's commitment to double global Shingrix sales, reaching more than GBP4 billion by 2026," it added.
The deal will significantly extend the availability of the vaccine to healthcare professionals and over 30,000 points of vaccination, it said.
Zhifei is the largest Chinese vaccine company by revenue, GSK said.
The partnership will also support potential future co-development and commercialization of GSK's respiratory syncytial virus vaccine Arexvy in the country. Arexvy is currently not approved in China.
Write to Michael Susin at michael.susin@wsj.com
(END) Dow Jones Newswires
October 09, 2023 06:01 ET (10:01 GMT)
Copyright (c) 2023 Dow Jones & Company, Inc.-
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