Japan's Shionogi pays $2.13B to boost stake in ViiV Healthcare
Japan’s Shionogi & Co. announced on Tuesday that it will pay $2.13 billion for new shares in ViiV Healthcare, its joint venture with British drugmaker GSK, raising its stake in the HIV drugmaker to 21.7%.
This move comes as U.S. drugmaker Pfizer exits its 11.7% stake in the company, News.Az reports, citing Reuters.
Under the terms of the agreement, Pfizer will receive $1.88 billion for its 11.7% holding, and GSK will receive a special dividend of $250 million as ViiV cancels Pfizer’s shares.
GSK will retain its 78.3% majority stake in ViiV Healthcare, which was founded in 2009 with Pfizer and joined by Shionogi as a shareholder in 2012.
The deal streamlines ownership of ViiV Healthcare at a time when the company is advancing a pipeline of long-acting injectable HIV treatments and prevention medicines.
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