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British pharmaceutical giant GlaxoSmithKline (LSE:GSK) will give up its existing development and commercial rights to several vaccines in favour of a joint venture with Japan’s leading pharmaceutical company Daiichi Sankyo Co. Ltd.
Japan Vaccine Co. Ltd, the Joint Venture between GSK Biologicals and Daiichi Sankyo, will supply vaccines, already developed by both companies, for human papillomavirus, rotavirus, seasonal Flu, mumps, diphtheria pertussis (DTP), and measles rubella (MR) to the Japanese population.
The joint venture will have a start-up capital of about £800,000 (¥100 million) in a 50-50 split, which will be used to purchase the vaccines from the parent companies, GSK and Daiichi Sankyo, as well fund future developments of vaccines, once approved.
“This collaboration marks another step in our strategy to build our presence in key growth markets and will create the first and largest company dedicated solely to vaccines in Japan,” GSK said in the statement.
According to the statement released by both parties, Japan is lagging behind other advanced nations in the use of vaccines as a tool for disease prevention.
The JV will draw from GSK’s “extensive global development know-how, rich pipeline, most advanced technology and recent contributions to the Japanese vaccine market environment” and Daiichi Sankyo’s domestic knowledge, production capability, and experience in sales and logistics to deliver the vaccine to “protect Japanese people of all ages from children to the elderly from infections.”
Daiichi Sankyo was formed in 2005 in a joint-holding between Sankyo and Daiichi Pharmaceuticals and formally merged as one group in 2007, with reach in the US, Europe, and across Asia.
President Comment
Christophe Weber, President Designate of GlaxoSmithKline Vaccines, speaking about the venture, commented:
“We are very pleased to be partnering with Daiichi Sankyo, a highly regarded company and an established leader in Japan. Both companies have strong track records in commercialisation and, in combination, will create further significant economies of scale in the development and distribution of vaccines in the Japanese market.”
Company Spotlight
GlaxoSmithKline is a leading pharmaceutical and healthcare companies based in the United Kingdom with branches in more than 100 countries around the world.
References
↑ Daiichi-GSK Joint Venture Press Release
↑ Daiichi Sankyo Company History
↑ GSK Company Profile
