GSK To Acquire Affinivax In $3.3 Bln Deal - Quick Facts

(RTTNews) - GlaxoSmithKline Plc. (GSK,GSK.L) said Tuesday that it agreed to acquire Boston-based clinical-stage biopharmaceutical company Affinivax in a deal valued at as much as $3.3 billion.

Affinivax is pioneering the development of a novel class of vaccines, the most advanced of which are next-generation pneumococcal vaccines.

As per the terms of the deal, GSK will pay $2.1 billion upfront and up to $1.2 billion in potential development milestones.

The transaction is expected to close in the third quarter of 2022.

GSK reaffirms its full-year 2022 guidance and the medium-term outlook for 2021-2026 of more than 5% sales and 10% adjusted operating profit CAGR at CER.