ARTICLE | Company News
GSK mulling ViiV IPO
October 23, 2014 2:50 AM UTC
GlaxoSmithKline plc (LSE:GSK; NYSE:GSK) said it is considering an IPO for ViiV Healthcare Ltd., the HIV joint venture it formed with Pfizer Inc. (NYSE:PFE) in 2009. On GSK's third quarter earnings call, CEO Andrew Witty said the company was considering a "partial IPO or IPO of a minority stake," likely no sooner than 2016.
GSK holds a 78.3% stake in ViiV, while Pfizer holds 11.7%. Shionogi & Co. Ltd. (Tokyo:4507) obtained the remaining 10% in 2012 when ViiV licensed exclusive, worldwide rights to compounds previously developed under a ViiV-Shionogi joint venture. That deal included Tivicay dolutegravir, which FDA approved in August 2013 and the EC approved in January 2014. ...