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GlaxoSmithKline acquires Bristol-Meyers Squibb’s late-stage HIV R&D assets.
GlaxoSmithKline (GSK) announced its global HIV business, ViiV Healthcare, has reached two separate agreements with Bristol-Myers Squibb (BMS) to acquire its late-stage HIV R&D assets and its portfolio of preclinical and discovery-stage HIV research assets, the company said in a Dec. 18, 2015 announcement.
According to the announcement, under the terms agreed in the two transactions, ViiV Healthcare will acquire:
According to GSK, the late-stage asset purchase comprises an upfront payment of $317 million, followed by development and first commercial sale milestones of up to $518 million, and tiered royalties on sales. The purchase of preclinical and discovery-stage research assets comprises an upfront payment of $33 million, followed by development and first commercial sales milestones of up to $587 million, and further consideration contingent on future sales performance. The two transactions are anticipated to complete independently during the first half of 2016, subject to necessary approvals, anti-trust, and regulatory clearances.