LONDON (ShareCast) - Drug giant GlaxoSmithKline (LSE: GSK.L - news) has entered into an agreement with Chinese gene engineering drug
group Shenzhen Neptunus Interlong Bio-Technique to develop and manufacture influenza vaccines for China.
The agreement, which will include making vaccines for seasonal, pre-pandemic and pandemic influenza, will result in the drugs being available over the next few years, Glaxo said.
The firm said, Shenzhen Neptunus will provide local manufacturing capacity and R&D expertise, while Glaxo will provide access to its systems that improve production efficiency.
Glaxo will pay £21m for a 40% stake in the joint venture, while Shenzhen Neptunus will pay £31m for 60%.
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