Pfizer Enters into Agreement with GlaxoSmithKline
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Pfizer Inc. has announced that it has entered into an agreement with GlaxoSmithKline (GSK) to acquire its quadrivalent meningitis ACWY vaccines, Nimenrix and Mencevax, for a total consideration of approximately $130 million (€115 million). This transaction will add two high-quality and complementary vaccines to Pfizer’s portfolio, allowing the company to reach a broader global population.
Nimenrix (meningococcal serogroups A, C, W-135 and Y conjugate vaccine) is a single dose meningococcal ACWY-TT (tetanus toxoid) conjugated vaccine designed to protect against Neisseria meningitidis, an uncommon but highly contagious disease that can lead to disability and death.
Launched three years ago, it is indicated for all age groups above one year of age. Nimenrix is currently registered and approved for sale in 61 countries across the European Economic Area (EEA 30), Canada, Australia and Emerging Markets, with registrations under review in another 18 countries across Africa, Asia, Eastern Europe and the Middle East.
Mencevax (meningococcal polysaccharide serogroups A, C, Y and W-135 vaccine) is a single-dose meningococcal ACWY unconjugated polysaccharide vaccine used to control outbreaks of meningococcal infection and for travelers to countries where the disease is endemic or highly epidemic. Mencevax is indicated for use across all age groups from two years of age, and is currently registered and approved in 79 countries across Africa, Asia, Australia, Europe, Latin America, Middle East and New Zealand.
Pfizer is committed to identifying opportunities that make a difference in public health and benefit more patients across the globe. With the approval in 2014 of Trumenba® (Meningococcal Group B Vaccine) in the U.S. for protection against serogroup B meningococcal disease in individuals 10 through 25 years of age, the acquisition of NeisVac-C for protection against serogroup C meningococcal disease from Baxter last year, and the addition of these two quadrivalent meningitis vaccines, the company is creating a broad portfolio that is focused on helping prevent meningococcal disease as well as used for outbreak control.
“The addition of Nimenrix and Mencevax is an important milestone for Pfizer Vaccines. Adding these two innovative and complementary vaccines to our current portfolio will allow us to more completely respond to meningococcal disease outbreaks as well as proactively address a critical public health need – the prevention of meningococcal disease across all ages,” said Susan Silbermann, President, Pfizer Vaccines. “Acquiring these quadrivalent vaccines will broaden our ability to address the burden of meningococcal meningitis – an uncommon but serious and sometimes fatal disease. This helps us to further fulfill our vision to protect lives with innovative vaccines to fight serious diseases worldwide and gives us even greater capability to meet the needs of the global community we serve.”
Pfizer’s focus for the past several years has been on strengthening its innovative core so that it can bring to patients new therapies that significantly improve their lives. Pfizer Vaccines’ strategy includes growing its core business, advancing its pipeline and enhancing its portfolio through targeted external opportunities that complement our existing products and future pipeline.
Pfizer does not expect this transaction to have any significant impact on its 2015 financial performance. The transaction is subject to customary closing conditions as well as regulatory approvals in several markets, and is expected to occur in the second half of 2015. Pfizer’s legal advisors for the transaction were Ropes & Gray and Clifford Chance.
