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GlaxoSmithKline Sells Two Travel Vaccines Rabipur And Encepur To Bavarian Nordic

GlaxoSmithKline plc (GSK,GSK.L) announced the sale of travel vaccines Rabipur for the prevention of rabies, and Encepur for the prevention of tick-borne encephalitis, to Bavarian Nordic. These brands were acquired from Novartis (NVS) in 2015 as part of the acquisition of its vaccines business.

GSK will receive an upfront payment of approximately EUR 301 million or £259 million and milestone payments for a total consideration of up to EUR 955 million or £822 million. The transaction is expected to close by the end of 2019.

GSK noted that both vaccines will continue to be manufactured primarily at Marburg site in Germany until full production is transferred to Bavarian Nordic. The staged technology transfer is expected to commence in the first quarter of 2020 with completion anticipated within 5 years.

Roger Connor, President, Global Vaccines at GSK, said, "This agreement with Bavarian Nordic will enable us to commit greater resources to our key growth assets and to our R&D pipeline, while also ensuring the continued supply of these important and successful vaccines."

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