GSK sells two vaccines to Pfizer to ease competition concerns
LONDON – GlaxoSmithKline has agreed to sell two meningitis vaccines to Pfizer to satisfy antitrust concerns after its recent acquisition of vaccines business of Novartis.
The British drugmaker said on Monday that the total consideration for the sale of its Nimenrix and Mencevax products to Pfizer’s Irish unit, including some deferred payments, was 115 million euros ($131 million).
GSK agreed to sell the two older vaccines, which are marketed outside the United States and had combined sales last year of 34 million pounds ($54 million), to meet concerns raised by the European Commission and other antitrust regulators.
Meningitis vaccines were an issue for competition authorities because GSK acquired two rival products from Novartis, known as Menveo and Bexsero.
The sale to Pfizer is expected to be completed before the end of the year. –Reuters