GSK China announces divestment of Urology business - strengthening strategic focus and value to patients
04 July 2016
GSK China today announced it has reached an agreement with TradeStar (Beijing) Pharmaceutical Holding Group ('TradeStar'), to transfer full ownership of GSK's Nanjing MeiRui business, including the manufacturing site at Nanjing and its Urology products - Sheniting IR, Sheniting SR and Natuo - toTradeStar. These products will complement TradeStar's existing portfolio while allowing them to leverage MeiRui's manufacturing capacity, technical capabilities and skilled employee base.
GSK is committed to China and has focussed its business on the six core areas where it can make a real difference to the lives of patients living in China. These include Respiratory, Hepatitis, Vaccines, HIV, CNS and Thrombosis/Anesthesiology.
Hervé Gisserot, SVP and GM, China/HK Pharmaceuticals and Vaccines, said, “We believe that TradeStar has the right focus and capability to supply these urology products to Chinese patients in need. GSK is fully committed to China and we will continue to grow our investments in each core area with a particular focus on vaccine manufacturing technology and R&D.”
Completion of the transaction with TradeStar is subject to regulatory clearances and approvals. Before the completion of the transaction, GSK China will work closely with TradeStar to prepare for a smooth transition of the business to minimise the impact on employees and patients.
As part of the 'in China, with China, for China' strategy, GSK China has already:
- Announced a Memorandum of Understanding between the GSK Institute for Infectious Diseases and Public Health and Tsinghua University to tackle global public health challenges in June 2016.
- Launched Tivicay, an innovative HIV drug, in June 2016.
- Participated in the national price negotiation pilot and announced a price reduction of our first line chronic hepatitis B treatment, Viread, by up to 67% in May 2016.
- Announced a Beijing-based Institute for Infectious Disease and Public Health to conduct local development programs for pivotal HIV and TB R&D assets in March 2016.
- Partnered with the National Health and Family Planning Commission on a multi-year program to fund independent training programs in Hepatitis and COPD for over 13,000 healthcare professionals from September 2015.
- Formalised a partnership with Shanghai-based Desano Pharmaceuticals to locally manufacture the Active Pharmaceutical Ingredient for Tivicay (dolutegravir) in July 2015.
- Transformed our commercial operating model to actively contribute to improving the quality of scientific exchanges with healthcare professionals for the benefit of patients since May 2015.
GSK – one of the world's leading research-based pharmaceutical and healthcare companies – is committed to improving the quality of human life by enabling people to do more, feel better and live longer. For further information please visit www.gsk.com.
GSK commitment to China
We are a science-led global healthcare company. We research, develop and manufacture a wide range of medicines, vaccines and consumer healthcare products. People are at the heart of what we do. We strive to bring high quality, high performing products to everyone who needs them. Creating innovative products and improving access to them is critical to our mission, allowing us to help build stronger, healthier communities. In China, and around the world, we are on a mission to help people do more, feel better, live longer. We are in China, with China, for China, and our commitment remains unwavering.
Susan Song firstname.lastname@example.org (Shanghai)
Cautionary statement regarding forward-looking statements
GSK cautions investors that any forward-looking statements or projections made by GSK, including those made in this announcement, are subject to risks and uncertainties that may cause actual results to differ materially from those projected. Such factors include, but are not limited to, those described under Item 3.D 'Risk factors' in the company's Annual Report on Form 20-F for 2014.