GSK plc (GSK,GSK.L), on Thursday, said it has agreed with Chongqing Zhifei Biological Products Ltd. to revise the terms on which Zhifei will commercialize GSK's shingles vaccine, Shingrix, in mainland China.
This agreement serves as an amendment to the previously announced contract from October 2023. In accordance with the terms of the revised agreement, the parties anticipate that Zhifei will buy volumes of Shingrix, phased over a specified timeframe, amounting to a potential total value of £2.3 billion to GSK at current exchange rates, throughout the six-year period from 2024 to 2029. The previously stipulated minimum purchase levels shall no longer be in effect.
The revised agreement extends the original three-year term during which Zhifei holds exclusive rights to import, distribute, and co-promote the vaccine in mainland China by an additional eight years, thereby extending these rights until 2034, along with updated anticipated volumes.
Furthermore, under the amended agreement, Zhifei commits to engaging exclusively with GSK to explore a potential collaboration for the commercialization of a respiratory syncytial virus vaccine in mainland China, contingent upon the regulatory approval of the vaccine, with an initial collaboration term of ten years.
Luke Miels, Chief Commercial Officer, GSK, stated, "This revised agreement with Zhifei puts our collaboration on a sustainable footing, managing challenges in the macro environment in the near-term, and helping us to reach even more Chinese people with our innovative adult vaccines over the long-term."
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