GlaxoSmithKline acquires HIV assets

GlaxoSmithKline’s HIV business has reached a couple of deals with Bristol-Myers Squibb to acquire its late-stage HIV research and development assets as well as its portfolio of preclinical and discovery stage HIV research assets.

Under the agreements, ViiV Healthcare will acquire a number of late stage assets including attachment inhibitor fostemsavir (BMS-663068), and assets in preclinical and discovery phases of development including a novel biologic with a triple mechanism of action.

GSK will pay $350m (£234m) upfront as well as development and first commercial sale milestones of up to $518M and $587m on each deal.

Chairman of ViiV Healthcare David Redfern said the acquisitions strengthen the company’s leadership and innovation.

“The addition of two potential first-in-class late-stage treatments and several promising early clinical development programmes strengthens ViiV Healthcare's pipeline and provides us with further new opportunities for growth."

The acquisition is expected to be completed in the first half of 2016.