GlaxoSmithKline has teamed up with another emerging markets partner. The drugmaker inked a deal with Russian vaccine firm JSC Binnopharm to make and sell several of its big vaccines in that country. It's just the latest in a series of tie-ups in developing countries for GSK, which is pinning a big chunk of its growth hopes on those fast-growing drug markets.
GSK will supply bulk vaccine to Binnopharm, along with expertise and technology. Binnopharm will be responsible for getting government approval for the vaccines--the human papilloma virus/cervical cancer shot Cervarix; the rotavirus vaccine Rotarix; and the pneumococcal vaccine Synflorix--and for amping up its manufacturing facilities for the purpose. Financial details weren't disclosed.
Local partnerships are increasingly important in Russia, where the government has said it would give precedence to domestic firms as it beefs up healthcare in the country. According to Reuters, Russian aims to boost domestic pharma's share of the market to 50 percent from 20 percent now.
According to a joint statement, GSK and Binnopharm hope to get their locally-made vaccines onto the Russian National Immunization Calendar, which could mean a big boost to sales.