Pfizer and GSK have created a specialist HIV company.

World-leading pharmaceutical companies GlaxoSmithKline (GSK) and Pfizer today announced they are pooling their assets to create a new specialist HIV company.

The deal will see the drug giants combine their existing HIV products and pipelines – with GSK holding 85% of the company and Pfizer 15%. Combined, it will hold a 19% share of the market.

The new company will have an extensive portfolio of 11 products, including market-leading therapies such as Combivir, Kivexa and Selzentry/Celsentri. Focused solely on the research, development and commercialisation of HIV medicines, it will be more sustainable and broader in scope than either company individually.

It also plans to conduct research and development activities specifically to address appropriate access to HIV medicines in developing countries. In particular, the new company will increase its research effort into treatments and formulations for children living with HIV.

Not-for-profit pricing for HIV medicines will continue for those countries most in need, and the new company will continue to facilitate new voluntary licences to diversify production and expand capacity in these markets.

Andrew Witty, Chief Executive Officer of GSK, said: “Today marks a definitive step by GSK to renew our focus and deliver more medicines, more efficiently, to people living with HIV/AIDS.

“At the core of this specialist business is a broad portfolio of products and pipeline assets, which can be more effectively leveraged through the new company’s strong revenue base and dedicated research capability. “

Dominique Limet has been appointed as Chief Executive Officer Designate of the new company and as a member of its Board.

For more information about the announcement, visit www.hivfutures.com