OR WAIT null SECS
The divestment of Nimenrix and Mencevax was to satisfy regulatory clearances when GSK gained Novartis’ vaccines business in an asset swap in March 2015.
GlaxoSmithKline has announced that it will sell its meningitis vaccines Nimenrix and Mencevax to Pfizer Ireland Pharmaceuticals, a subsidiary of Pfizer Inc. The divestment was part of GSK’s commitments to the European Commission and other regulators when it gained Novartis’ vaccines business (which included the meningitis vaccines Menveo and Bexsero, but excluded influenza vaccines) in an asset swap completed in March 2015. The deal raised concerns because GSK’s expanded vaccines portfolio could dominate the market.
To satisfy regulatory clearances, GSK has agreed to sell off its legacy meningitis vaccines Nimenrix and Mencevax, which reached combined global sales of GBP34 million in 2014. The agreement with Pfizer Ireland Pharmaceuticals remains subject to final European Commission approval, other regulatory approvals, and other customary closing conditions, which GSK hopes to receive in the coming months. The sale is expected to close before the end of the year. The total consideration for the sale, including some deferred consideration, is EUR115 million.