GlaxoSmithKline plc announced that its global HIV business,
ViiV Healthcare, has reached two separate agreements with Bristol-Myers
Squibb, to acquire its late-stage HIV R&D assets; and to acquire
Bristol-Myers Squibb’s portfolio of preclinical and discovery stage HIV
research assets.
The late-stage asset purchase comprises an upfront payment of $317 million, followed by development and first commercial sale milestones of up to $518M, and tiered royalties on sales. The purchase of preclinical and discovery stage research assets comprises an upfront payment of $33 million, followed by development and first commercial sales milestones of up to $587M, and further consideration contingent on future sales performance.