GSK Unit Snags BMS' HIV Assets
GlaxoSmithKline’s ViiV Healthcare has inked two agreements with Bristol-Myers Squibb to pump up its HIV portfolio.
As part of one agreement, ViiV will acquire fostemsavir, which is in Phase 3 development for treatment-experienced patients. The FDA has granted the candidate breakthrough therapy designation, and it is expected to come up for approval in 2018. In addition, ViiV will obtain a maturation inhibitor that is in Phase 2b development for treatment-naive and treatment-experienced patients. ViiV also will get a back-up maturation inhibitor candidate as part of its purchase.
Terms of the deal include an upfront payment of $317 million, followed by development and first commercial sale milestones of up to $518 million, as well as tiered royalties on sales.
The second agreement, worth $33 million upfront, will give ViiV preclinical and discovery-phase assets. It includes development and first commercial sales milestones of up to $587 million, as well as future payments contingent on sales performance.