Japan’s Shionogi & Co said on Tuesday it would pay $2.13 billion for new shares in ViiV Healthcare, its joint venture with British drugmaker GSK, increasing its stake in the HIV drugmaker to 21.7% as US drugmaker Pfizer exits its 11.7% shareholding.
Under the agreement, Pfizer will receive $1.88 billion for its 11.7% holding, and GSK will get a special dividend of $250 million as ViiV cancels the U.S. drugmaker’s shares.
GSK will retain its 78.3% majority stake in ViiV Healthcare. The British firm established ViiV Healthcare with Pfizer in 2009, with Shionogi joining 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.
Reuters
