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GSK, Pfizer launch HIV companyNovember 3, 2009 10:07 AM ETJames Gallagher Pharmaceutical giants GlaxoSmithKline and Pfizer officially have launched a joint venture to develop HIV treatments. A new company, ViiV Healthcare, will assume control of current HIV treatments from GSK (NYSE: GSK) and Pfizer (NYSE: PFE) while also working to develop new treatments. The new company currently has available 10 medicines, which generated about $2.9 billion in sales in 2008 and represent about 19 percent of the HIV market. The company has seven targeted medicines in development. GSK and Pfizer, which will have ownership stakes in ViiV Healthcare of 85 percent and 15 percent, respectively, announced the collaborative effort in April. “Our ambition is to conduct research and development both inside and outside ViiV Healthcare,” said Dr. Dominique Limet, ViiV’s CEO. Limet said ViiV is looking to new strategies to develop growth opportunities through geographic expansion, new collaborations and other business development activities. Copyright 2009 bizjournals.com
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