GSK to Purchase Remaining Stake in Shenzhen Neptunus
The decision reflects GSK’s intention to further expand its vaccines presence in China through the establishment of local vaccine manufacturing capability.
GlaxoSmithKline announced yesterday that it has inked an agreement to acquire the remaining 51% equity interest of Shenzhen Neptunus Interlong Bio-Technique Co. Ltd in the joint venture company, Shenzhen GSK-Neptunus Biologicals Co. Ltd. (GSKNB), for a total cash consideration of ￡24 million (US$39 million).
The decision to acquire the outstanding interest in the GSKNB JV reflects GSK’s intention to further expand its vaccines presence in China through the establishment of local vaccine manufacturing capability.
Jean Stephenne, Chairman and President GSK Biologicals, said, “The decision to acquire the remaining equity interest in GSKNB reflects the importance GSK places in expanding our product offering in China and making new vaccines available to i
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