GSK opts to retain ViiV stake

GlaxoSmithKline plc (LSE:GSK; NYSE:GSK) said in its 1Q15 earnings announcement that it will retain its holding in ViiV Healthcare, its HIV-focused joint venture with Pfizer Inc. (NYSE:PFE) and Shionogi & Co. Ltd. (Tokyo:4507).

GSK CEO Andrew Witty said last fall the company was considering selling a minority stake via an IPO, likely no sooner than 2016, that would allow GSK to retain a majority stake in ViiV. GSK owns 78.3% of ViiV, while Pfizer has 11.7% and Shionogi 10% (see BioCentury Extra, Oct. 22, 2014). ...