Shenzhen Neptunus Interlong Bio-Technique Co. Ltd
Shenzhen Neptunus covers research and development, production, sales and distribution of chemical pharmaceuticals, biological pharmaceuticals, traditional Chinese medicines and healthcare products. Its main products are recombinant human interferon a-2b for injection (rhIFN a-2b), recombinant human interleukin-2 for injection (rhIL-2) and subunit influenza vaccine.
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GlaxoSmithKline and Shenzhen Neptunus create alliance to manufacture flu vaccines in China
GlaxoSmithKline (LSE: GSK) announced it will form a new Joint Venture with Shenzhen Neptunus Interlong Bio-Technique Co. Ltd (HK: 8329 focused on developing and manufacturing influenza vaccines for China, Hong Kong and Macau.
The Joint Venture is expected to benefit from the differing expertise that both companies have in developing vaccines, the company said. GlaxoSmithKline will provide access to its proprietary adjuvant system which helps improve efficiency and production by increasing the number of vaccine doses that can be produced using a smaller amount of antigen. Shenzhen Neptunus will provide local manufacturing capacity and R&D expertise.
Initially GlaxoSmithKline will have a 40% stake in the Joint Venture by supplying cash and assets equivalent to £21 million. Shenzhen Neptunus will take a 60% stake in the Joint Venture for a contribution of cash and assets equivalent to £31 million. However, GSK said it planned to acquire additional equity in the Joint Venture over the next two years to increase its stake to a majority interest.
“This new alliance enables GSK to build new vaccines capability in a critical emerging market such as China,” Jean Stéphenne of GlaxoSmithKline Biologicals, said. “The new Joint Venture will combine the potential of GSK's adjuvant technology and expertise in vaccine development together with the extensive experience of Shenzhen Neptunus in the Chinese vaccines market. Together we will gain access to specific local influenza antigens and make available new vaccines to benefit public health in China and neighbouring territories.”
