GSK to divest Nimenrix and Mencevax to Pfizer

As a result of requirements imposed by the European Commission for completion of  an asset swap with Novartis (NOVN: VX), UK pharma major GlaxoSmithKline (LSE: GSK) says it is divesting its meningitis vaccines Nimenrix and Mencevax to the Irish subsidiary of US drugs giant Pfizer (NYSE: PFE).

As part of the three-part transaction, which completed in March, GSK a cquired Novartis’s vaccines business (excluding influenza vaccines) including the meningitis vaccines Menveo and Bexsero. In order to satisfy regulatory clearances as part of the transaction, GSK agreed to divest its legacy meningitis vaccines Nimenrix and Mencevax, which are sold outside the USA and achieved combined global sales in 2014 of £34 million ($54 million).

Total consideration of 115 million euros