GSK said today it would pay up to $3.3 billion to acquire privately held biopharma firm Affinivax to bolster its vaccine pipeline, a key area of focus as the British drugmaker prepares to separate its consumer unit.
GSK, the world’s largest vaccine maker by sales, has been under pressure to shore up its pipeline.
Last month, it indicated an appetite for further deals after spending $1.9 billion to buy Sierra Oncology to bolster its cancer business.
The US-based Affinivax is developing next-generation vaccines, the company said, the most advanced of which are for pneumococcal diseases, including pneumonia, meningitis and sinusitis.
GSK will pay Affinivax $2.1 billion upfront and up to $1.2 billion in potential development milestones.
Edits by EP News Bureau