GSK (GSK.L) said on Tuesday it would pay up to $3.3 billion to acquire privately held biopharmaceutical firm Affinivax to bolster its vaccine pipeline, a key area of focus as the British drugmaker prepares to separate its consumer unit.
GSK, the world’s largest vaccine maker by sales, has been under pressure to shore up its pipeline. Last month, it indicated an appetite for further deals after spending $1.9 billion to buy Sierra Oncology (SRRA.O) to bolster its cancer business.
U.S.-based Affinivax is developing next-generation vaccines, the company said, the most advanced of which are for pneumococcal diseases, including pneumonia, meningitis and sinusitis.
GSK will pay Affinivax $2.1 billion upfront and up to $1.2 billion in potential development milestones.
The London-listed company on Tuesday also reiterated its outlook for 2022 and its medium-term targets.
