—Glaxo Acquired Vaccines Player “Deal for biotech firm Corixa locks up supply of key ingredient” PHARMACEUTICALS Signaling big pharma interest in the vaccine field, GlaxoSmithKline has agreed to pay about $300 million to acquire Corixa, a Seattle-based company that develops vaccine adjuvants. Vaccines are a traditionally slow-growing business that came into the spotlight last year when a British plant operated by Chiron was deemed unfit to manufacture the flu vaccine. The resulting shortage underscored the tenuousness of global vaccine supply. Although GSK is involved in traditional pediatric vaccines for diseases such as measles, mumps, and tetanus, it is also developing vaccines for new, less well-known indications. Notably, the company is in late-stage testing of Cervarix, a potentially multi-billion-dollar vaccine that targets infection by the human papilloma virus, a leading cause of cervical cancer.
by Michael McCoy |
May 09, 2005