GSK amasses $3.5B in flu vax orders

GlaxoSmithKline (GSK) is still toting up orders for its H1N1 vaccine. Since the company last updated its vaccine contract numbers in early August, it has garnered orders for an additional 149 million doses. That makes its total take on the swine flu vaccine as much as $3.5 billion, Reuters reports.

So far. The company said in a statement that it's still talking to various governments about additional supplies. And the first batches will be shipped this week, the company says.

Meanwhile, the company is digging more deeply into the vaccine market with a joint venture in China. GSK has hooked up with Jiangsu Walvax Biotech with plans to make and develop shots for the Chinese market. Initially, the JV will build a new manufacturing facility in-country, where it will produce Glaxo's MMR vaccine Priorix. Other pediatric shots may follow. And the JV will work on new vaccines as well.

In setting up the JV, Glaxo will invest $32 million initially and an additional $11 million in 2015, getting a 65 percent equity interest in return.

- get the GSK flu announcement
- see the company's release on the joint venture
- read the article in the Wall Street Journal
- find the Reuters flu story
- check out Reuters' take on the JV