RESEARCH TRIANGLE PARK – Drug giant GlaxoSmithKline is selling two travel vaccines in acquired from Novartis in 2015 in a deal worth more than $1 billion.
The deal involves a rabies vaccine and a tick-borne encephalitis vaccine.
Bavarian Nordic is acquiring the vaccines for an upgront payment and milestone payments.
GSK says the sale “supports GSK’s strategic intent to increase focus and reinvest in growth assets, innovation and a simplified supply chain in its vaccines business.”
“This agreement with Bavarian Nordic will enable us to commit greater resources to our key growth assets and to our R&D pipeline, while also ensuring the continued supply of these important and successful vaccines,” said Roger Connor, President of Global Vaccines for GSK, in a statement.
GSK will continue manufacture both vaccines in Germany “until full production is transferred” to Bavarian Nordic.
“No employees or manufacturing facilities are being transferred as part of this transaction,” GSK added.
GSK operates an R&D site in Research Triangle Park and a manufacturing plant in Zebuon.