Pharmaceuticals giant GlaxoSmithKline (GSK) expects to create the number one vaccines company in Japan after forming a joint venture (JV) with Japanese peer Daiichi Sankyo.
The JV, in which each company owns an equal 50/50 stake, will supply globally recommended vaccines to help protect people of all ages in Japan, GSK said. These vaccines include the Human Papillomavirus (HPV) vaccine, the Rotavirus vaccine, the Seasonal flu vaccine, the Mumps vaccine, the Diphtheria Pertussis (DTP) vaccine, and the Measles Rubella (MR) vaccine.
Both GSK and Daiichi will sell their respective vaccines into the JV at agreed upon prices and expect sales synergies from the JV.
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"This collaboration marks another step in our strategy to build our presence in key growth markets and will create the first and largestcompanydedicated solely to vaccinesin Japan," said President Designate of GSK Christophe Weber.
"We areverypleased to bepartneringwith Daiichi Sankyo, a highlyregardedcompanyand an established leader in Japan. Both companies have strong track records in commercialisation and, in combination, will create further significant economies of scale in the development and distribution of vaccines in the Japanese market," he said.
Both groups will investment a combined total of 100m yen (around £0.8m) to cover the start-up capital requirements of the JV.
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