(For other news from the Reuters Health Summit, click here)
NEW YORK Nov 9 An HIV company set up a year
ago by GlaxoSmithKline Plc (GSK.L) and Pfizer Inc (PFE.N) could
be spun off and floated in an initial public offering once its
drug pipeline has matured a little further.
"It's certainly a possibility," Glaxo Chief Strategy
Officer David Redfern said at the Reuters Health Summit on
The creation of ViiV Healthcare marked an unusual drug
industry collaboration because of the way in which it pooled
the two companies' HIV/AIDS operations into a new business
majority owned by Glaxo.
"If it becomes clear to GSK and Pfizer that giving the
company even more independence and its own access to the
capital markets makes sense, then we would be very open to
doing that," Redfern said.
ViiV has a pipeline with several promising new medicines
against HIV, which he said needed a bit more time to mature to
show full potential.
The jointly owned business could also be a template for
other collaborations in different therapeutic areas.
"We are very open to more of those sort of therapy
combinations, in the right circumstances and if we can find the
right partners," Redfern said.
(For more on the Reuters Health Summit, see [ID:nN08233600])
(Reporting by Ben Hirschler. Editing by Robert MacMillan)