<p>British drugmaker GlaxoSmithKline on Tuesday snapped up US biopharmaceutical firm Affinivax for up to $3.3 billion, expanding further into vaccines before the demerger of its consumer healthcare arm.</p>.<p>The London-listed company has agreed to pay $2.1 billion upfront and up to $1.2 billion in potential development milestones for Affinivax.</p>.<p>"GSK plc today announced that it has entered into a definitive agreement to acquire Affinivax, Inc," it said in a statement.</p>.<p>"Affinivax is pioneering the development of a novel class of vaccines, the most advanced of which are next-generation pneumococcal vaccines," it added.</p>.<p>The Cambridge, Massachusetts-based firm specialises in vaccines for diseases including meningitis, pneumonia and bloodstream infections.</p>.<p>"The proposed acquisition further strengthens our vaccines research and development (R&D) pipeline, provides access to a new, potentially disruptive technology, and broadens GSK's existing scientific footprint in the Boston area," said GSK's chief scientific officer Hal Barron.</p>.<p><strong>Also Read: <a href="https://www.deccanherald.com/national/leaders-at-wef-hail-indias-covid-19-vaccine-equity-manufacturing-1111803.html" target="_blank">Leaders at WEF hail India's Covid-19 vaccine equity, manufacturing</a></strong></p>.<p>"We look forward to working with the many talented people at Affinivax to combine our industry-leading development, manufacturing, and commercialisation capabilities to make this exciting new technology available to those in need," added Barron, who is also the group's president of R&D.</p>.<p>The acquisitions come as chief executive Emma Walmsley seeks to reshape GSK after she faced fierce investor criticism over the company's delay in producing Covid jabs and treatments.</p>.<p>Glaxo last month bought US group Sierra Oncology, a specialist in medicines for rare forms of cancer, for $1.9 billion.</p>.<p>GSK is meanwhile in the process of demerging its consumer health care arm Haleon -- a joint venture with US peer Pfizer -- to concentrate on its main pharmaceutical business.</p>.<p>Glaxo has been slammed by activist investors over its failure to swiftly produce a successful Covid vaccine, in stark contrast with Anglo-Swedish rival AstraZeneca.</p>.<p>The Affinivax purchase is expected to complete in the third quarter.</p>.<p>GSK shares climbed 0.6 per cent in early Tuesday morning deals to 1,739.07 pence on London's rising stock market.</p>
<p>British drugmaker GlaxoSmithKline on Tuesday snapped up US biopharmaceutical firm Affinivax for up to $3.3 billion, expanding further into vaccines before the demerger of its consumer healthcare arm.</p>.<p>The London-listed company has agreed to pay $2.1 billion upfront and up to $1.2 billion in potential development milestones for Affinivax.</p>.<p>"GSK plc today announced that it has entered into a definitive agreement to acquire Affinivax, Inc," it said in a statement.</p>.<p>"Affinivax is pioneering the development of a novel class of vaccines, the most advanced of which are next-generation pneumococcal vaccines," it added.</p>.<p>The Cambridge, Massachusetts-based firm specialises in vaccines for diseases including meningitis, pneumonia and bloodstream infections.</p>.<p>"The proposed acquisition further strengthens our vaccines research and development (R&D) pipeline, provides access to a new, potentially disruptive technology, and broadens GSK's existing scientific footprint in the Boston area," said GSK's chief scientific officer Hal Barron.</p>.<p><strong>Also Read: <a href="https://www.deccanherald.com/national/leaders-at-wef-hail-indias-covid-19-vaccine-equity-manufacturing-1111803.html" target="_blank">Leaders at WEF hail India's Covid-19 vaccine equity, manufacturing</a></strong></p>.<p>"We look forward to working with the many talented people at Affinivax to combine our industry-leading development, manufacturing, and commercialisation capabilities to make this exciting new technology available to those in need," added Barron, who is also the group's president of R&D.</p>.<p>The acquisitions come as chief executive Emma Walmsley seeks to reshape GSK after she faced fierce investor criticism over the company's delay in producing Covid jabs and treatments.</p>.<p>Glaxo last month bought US group Sierra Oncology, a specialist in medicines for rare forms of cancer, for $1.9 billion.</p>.<p>GSK is meanwhile in the process of demerging its consumer health care arm Haleon -- a joint venture with US peer Pfizer -- to concentrate on its main pharmaceutical business.</p>.<p>Glaxo has been slammed by activist investors over its failure to swiftly produce a successful Covid vaccine, in stark contrast with Anglo-Swedish rival AstraZeneca.</p>.<p>The Affinivax purchase is expected to complete in the third quarter.</p>.<p>GSK shares climbed 0.6 per cent in early Tuesday morning deals to 1,739.07 pence on London's rising stock market.</p>