GlaxoSmithKline to hold 85 pc in new HIV company

GlaxoSmithKline (GSK) is set to hold an 85 per cent equity interest in a new specialist HIV company in collaboration with Pfizer.

The partnership will focus on research, development and commercialisation of medication for the disease and will have a broader scope than either company has individually.

It is thought the new venture will hold a 19 per cent share of the market and, according to GSK, will have a pipeline that is “industry-leading”.

Andrew Witty, chief executive officer of GSK, explained HIV is a global threat and the new firm will be better placed to meet the challenges of a condition that affects a growing number of people and is becoming increasingly viral resistant.

He added: “At the core of this specialist business is a broad portfolio of products and pipeline assets, which can be more effectively leveraged through the new company’s strong revenue base and dedicated research capability.”

The move is an important step for GSK to focus on delivering more treatments to help sufferers of the illness.

Earlier this month, the pharmaceutical company submitted a regulatory application to the European Medicines Agency to expand the use of Tyverb to aid patients with metastatic breast cancer.