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GlaxoSmithKline to have controlling stake in partnership HIV company

17 Apr 2009

Pharmaceutical company GlaxoSmithKline (GSK) will hold a majority share in a new specialist company, it has announced.

The partnership with Pfizer will see GSK take an 85 per cent controlling stake in the new business, which - it is thought - will hold a 19 per cent share of the market.

It will focus on the research, development and commercialisation of HIV medication.

The virus is a global threat and the new company will be well-placed to help come up with solutions to a problem that is becoming increasingly resistant to treatment, according to GSK chief executive Andrew Witty.

"At the core of this specialist business is a broad portfolio of products and pipeline assets, which can be more effectively leveraged through the new company''s strong revenue base and dedicated research capability," he said.

The company is expected to be created by the end of this year.

GSK also recently opened registration for those who wish to view its fiscal results for the first quarter of 2009.