GSK, Pfizer, and Shionogi Complete $2.125 Billion Three-Way Transaction for ViiV Healthcare Stake

On January 20, GlaxoSmithKline ("GSK") and Shionogi ("Shionogi") announced that they had reached an agreement with Pfizer regarding Pfizer's current 11.7% economic interest in ViiV Healthcare Limited ("ViiV Health"), byShionogiInvestment replacement. Through this transaction,ShionogiWill increase its economic interest in ViiV Healthcare to 21.7%. GSK will retain its 78.3% majority stake. Shionogi will continue inViiV HealthcareThe committee is represented by a director, Dr. John Keller, who has been serving as a director of ViiV Healthcare since 2012.

According to the terms of the agreement, ViiV Healthcare will pay a consideration of $2.125 billion toShionogiIssue new shares and cancel Pfizer's stake in ViiV Healthcare. Pfizer will receive $1.875 billion, and GSK will receive a special dividend of $250 million (paid in pounds).

ViiV Healthcare is a global specialist HIV company dedicated to delivering advances in treatment and care for people living with HIV and people who may benefit from HIV prevention.

ViiV Healthcare Chairman David Redfern said, "This agreement simplifies ViiV's shareholder structure, and we look forward to continuing to work withShionogi"Conducting a very successful collaboration to advance the pipeline and portfolio of ViiV Healthcare’s long-acting injectable HIV treatments and preventive drugs. GSK also expressed gratitude to Pfizer for its long-term partnership in the development of ViiV since its establishment in 2009."

ShionogiJohn Keller, Ph.D., Board Director and Senior Vice President of R&D Oversight, stated:"Shionogi is committed to addressing major infectious diseases, and HIV is one of our most important key areas, as reflected in our role in discovering the innovative integrase inhibitors dolutegravir and cabotegravir. Our ongoing HIV research continues to contribute to ViiV's R&D pipeline through licensing agreements, such as with the third-generation integrase inhibitor S-395598/VH 4524184. We are delighted to further deepen our strategic partnership with GSK and ViiV Healthcare through this agreement, reinforcing our commitment and engagement in improving the lives of those living with or affected by HIV."

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