GlaxoSmithKline ($GSK) is making a move to beef up its vaccine business in India and has started the ball rolling with a price cut on its pneumonia vaccine Synflorix and set the stage for two product launches in 2016, according to a report by the Business Standard.
The company bought the India vaccine business of Novartis ($NVS) in September and added 120 employees from Novartis to its own team, while adding Novartis's rabies and meningitis vaccines to its own stable of treatments for influenza, chickenpox and Hepatitis A and B, the Business Standard reported.
"The acquisition of Novartis' vaccines business provides us with an exciting opportunity to build an even stronger, sustainable global vaccines business," a GSK spokesman told the Business Standard. "The transaction with Novartis enhances GSK's vaccines portfolio and brings together its expertise in virology, bacterial infection and technological platforms to deliver a reliable supply of high quality vaccines."
GSK's current vaccine portfolio brings in about $55 million or 20% of the company's overall revenues, according to the Business Standard.
- here's the story from the Business Standard