GSK's Global HIV Business ViiV Healthcare Completes Transactions to Acquire Bristol-Myers Squibb's R&D HIV Assets

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LONDON, Feb. 23, 2016 /PRNewswire=KYODO JBN/ --

     GlaxoSmithKline plc (LSE: GSK) today announced that ViiV Healthcare, the

global specialist HIV company majority owned by GSK, with Pfizer Inc. and

Shionogi Limited as shareholders, has completed two previously announced

transactions with Bristol-Myers Squibb to acquire its late-stage HIV R&D assets

and its portfolio of preclinical and discovery stage HIV research assets.  The

completion of both transactions follows antitrust approval by the relevant

regulatory authorities in the US, with the integration process beginning

immediately.

    Dominique Limet, CEO, ViiV Healthcare, said: "As a result of these

transactions, ViiV Healthcare now has one of the most robust HIV pipelines in

the industry. The assets that we have acquired complement our existing

portfolio and could lead to new medicines and combinations addressing a broad

range of treatment and prevention needs of people living with HIV."

    Under the terms of the transactions, ViiV Healthcare acquired late-stage

HIV R&D assets from Bristol-Myers Squibb for an initial upfront payment of $317

million followed by development and first commercial sale milestones of up to

$518M, and tiered royalties on sales. ViiV Healthcare also acquired

Bristol-Myers Squibb's preclinical and discovery stage HIV research business

for an upfront payment of $33 million, followed by development and first

commercial sales milestones of up to $587M, and further consideration

contingent on future sales performance.

    ViiV Healthcare has acquired:

    - Late stage assets, including fostemsavir (BMS-663068), an attachment

inhibitor currently in phase III development for heavily treatment experienced

patients. Fostemsavir has received a Breakthrough Therapy Designation from the

FDA and is expected to be filed for regulatory approval in 2018. The second

late stage asset is a maturation inhibitor (BMS-955176), and is currently in

phase IIb development for both treatment-naive and treatment experienced

patients. A back-up maturation inhibitor candidate (BMS-986173) is also

included in the purchase.

     - Assets in preclinical and discovery phases of development including a

novel biologic (BMS-986197) with a triple mechanism of action, an additional

maturation inhibitor, an allosteric integrase inhibitor and a capsid inhibitor.

    GSK - one of the world's leading research-based pharmaceutical and

healthcare companies - is committed to improving the quality of human life by

enabling people to do more, feel better and live longer.  For further

information please visit http://www.gsk.com.

    About ViiV Healthcare

    ViiV Healthcare is a global specialist HIV company established in November

2009 by GlaxoSmithKline (LSE: GSK) and Pfizer (NYSE: PFE) dedicated to

delivering advances in treatment and care for people living with HIV. Shionogi

joined in October 2012. The company's aim is to take a deeper and broader

interest in HIV/AIDS than any company has done before and take a new approach

to deliver effective and new HIV medicines, as well as support communities

affected by HIV. For more information on the company, its management,

portfolio, pipeline, and commitment, please visit http://www.viivhealthcare.com

    Cautionary statement regarding forward-looking statements GSK cautions

investors that any forward-looking statements or projections made by GSK,

including those made in this announcement, are subject to risks and

uncertainties that may cause actual results to differ materially from those

projected. Such factors include, but are not limited to, those described under

Item 3.D 'Risk factors' in the company's Annual Report on Form 20-F for 2014.

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Source: GlaxoSmithKline Plc