UK discussing flu vaccine cuts with Glaxo, Baxter

LONDON Jan 8 (Reuters) - Britain is looking at various options to deal with an oversupply of swine flu vaccines, including renegotiating contracts with manufacturers, selling them to another country or giving them away.

The department of health said on Friday it was in talks with major supplier GlaxoSmithKline (GSK.L) about reducing further supplies of its H1N1 vaccine and was discussing exercising a break clause in its order with Baxter International (BAX.N).

France and Germany have also announced plans this week to cancel millions of doses of H1N1 vaccines because of oversupply, leading to fears among investors that drug company revenues from the H1N1 pandemic will be lower than forecast.

(Reporting by Peter Griffiths; Writing by Ben Hirschler; Editing by Erica Billingham)