Osaka, Jan. 20 (Jiji Press)–Japanese pharmaceutical company Shionogi & Co. said Tuesday that it will spend 2,125 million dollars to raise its stake in British HIV drugs company ViiV Healthcare Ltd. from 10 pct to 21.7 pct. ViiV will issue new shares to Shionogi for the additional investment. Procedures are expected to be completed by the end of March. ViiV will cancel the 11.7 pct stake in the company held by U.S. pharmaceutical giant Pfizer Inc., a deal that will keep the stake in ViiV held by British pharmaceutical company GSK plc unchanged at 78.3 pct. “We are delighted to further deepen our strategic partnership with GSK and ViiV through this agreement, redoubling our commitment and participation in improving the lives of people living with or affected by HIV,” John Keller, senior executive officer at Shionogi, said in a statement. Shionogi has been in collaboration with GSK in the field of HIV drugs since 2001. END [Copyright The Jiji Press, Ltd.]
Shionogi to Raise Stake in British HIV Drugs Firm ViiV
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