GlaxoSmithKline Acquires Influenza Vaccine Manufacturer ID Biomedical Corporation
Thursday 8 December 2005, London, UK & Philadelphia, US - GlaxoSmithKline plc (NYSE:GSK) today announced the completion of the acquisition of ID Biomedical. This follows regulatory clearances of the transaction and adoption of the acquisition agreement by ID Biomedical’s shareholders (which occurred on the 16th of November). ID Biomedical becomes a wholly-owned subsidiary of GSK.
“This is a major step toward fulfilling our mission of becoming a leading global influenza vaccine manufacturer,” said Jean-Pierre Garnier, Chief Executive Officer of GSK. ID Biomedical provides GSK with a significant increase in flu vaccine manufacturing capacity, which will improve GSK’s ability to address both seasonal and pandemic influenza threats. The combined seasonal flu vaccine production capacity of the newly acquired Canadian facilities and of GSK’s Dresdenplant, Germany, is expected to reach around 150 million doses per year before the end of this decade.“We are actively working with governments and health authorities around the globe to support their plans for pandemic flu readiness and we are committed to bring the capabilities of our flu vaccine production facilities to the global preparation effort,” continued Garnier.
The acquisition of ID Biomedical reinforces GSK’s commitment to the North American vaccine market. This transaction follows recent strategic initiatives to expand its vaccine research and production network in North America, including the acquisition of Corixa Corporation and the purchase of the Marietta, PAvaccine site.
“With this acquisition, GSK continues to move forward to support the delivery of GSK’s broad pipeline of novel vaccines in North America,” said Jean Stéphenne, President of GSK Biologicals, the vaccine division of GSK. “We are very pleased to expand GSK’s vaccines capabilities in Canada. We have every confidence that the excellent relationships built up by both organizations with the Canadian public health authorities will continue,” he added.
GSK is dedicated to the improvement of existing flu vaccines and to the development of new influenza vaccination approaches. This includes the use of its expertise in novel vaccine adjuvant technology to develop an improved flu vaccine for the elderly and to produce more effective pandemic flu vaccines. In addition to providing GSK with increased production capacity for next generation influenza vaccines, ID Biomedical brings an intranasal flu vaccine candidate that could help GSK to address the public health need for new delivery systems.
GlaxoSmithKline: A World leader in Vaccines
GSK is one of the world’s leading vaccine manufacturers. Belgiumis the centre of all GSK’s activities in the field of vaccine research, development and production. GSK employs more than 1,100 research scientists devoted to discovering new vaccines and developing more cost-effective and convenient combination products to prevent infections that cause serious medical problems worldwide.
In 2004, GSK distributed more than 1.5 billion doses of vaccines to 168 countries in both the developed and developing world, an average of 45 doses per second.
In the next five years, GSK expects to launch five major new vaccines: an HPV vaccine targeting cervical cancer, a vaccine against rotavirus (already approved in 23 countries), a vaccine to prevent pneumococcal disease, an improved flu vaccine for the elderly, and a meningitis combination vaccine for infants in the US.
GlaxoSmithKline is one of the world’s leading research-based pharmaceutical and health care companies. GlaxoSmithKline is committed to improving the quality of human life by enabling people to do more, feel better and live longer. For company information visit www.gsk.com.
GSK cautionary statement regarding forward-looking statements
Under the safe harbor provisions of the US Private Securities Litigation Reform Act of 1995, the company cautions investors that any forward-looking statements or projections made by the company, including those made in this Announcement, are subject to risks and uncertainties that may cause actual results to differ materially from those projected. Factors that may affect the Group’s operations are described under ’Risk Factors’ in the Operating and Financial Review and Prospects in the company’s Annual Report on Form 20-F for 2004.
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