GSK to Buy Rival BMS HIV Drugs

Dec. 18, 2015

GlaxoSmithKline said it will buy drugs at varying stages of development from U.S. rival Bristol-Myers Squibb for an initial $350 million.

ViiV Healthcare, GSK's majority-owned HIV unit, will pay an initial $317 million to buy late-stage HIV drug candidates from BMS, including a phase III development treatment fostemsavir, plus $33 million for its preclinical assets. Fostemsavir is already in Phase 3 clinical trials and has received Breakthrough Therapy Designation from the FDA. 

The British company is attempting to reclaim its position as a leader in HIV treatment, as it chases market leader Gilead Sciences. "The addition of two potential first-in-class late-stage treatments and several promising early clinical development programs strengthens ViiV Healthcare’s pipeline and provides us with further new opportunities for growth,” said David Redfern, GSK CSO and chairman of ViiV Healthcare.

Read the Reuters press release