Drug company GlaxoSmithKline GSK has formed a joint venture with Chinese firm Shenzhen Neptunus Interlong Bio-Technique Company to develop and manufacture influenza vaccines for the Chinese market.
The JV will make influenza vaccines for China, Hong Kong and Macau, including vaccines for seasonal, pre-pandemic and pandemic influenza.
Shenzhen Neptunus will own 60% of the JV and will contribute cash and assets to the tune of approximately $47 million. The Chinese firm will also provide local manufacturing capacity and research and development expertise, and will transfer, sub-license or otherwise make available to the JV proprietary rights and interests in defined influenza vaccines and a rabies vaccine. The parties have agreed that the...
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