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news.GlaxoSmithKline has completed its $1.4 billion acquisition of the Canadian vaccine maker ID Biomedical after regulatory clearance for the deal.
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The transaction is part of GSK’s strategic initiative to expand its vaccine research and production network in North America, and adds to the company’s recent acquisitions of Corixa Corporation and a vaccine manufacturing facility in Pennsylvania previously owned by Wyeth.
ID Biomedical will provide GSK with a significant increase in flu vaccine manufacturing capacity, which will improve GSK’s ability to address both seasonal and pandemic influenza threats. The combined seasonal flu vaccine production capacity of the newly acquired Canadian facilities and of GSK’s Dresden plant, Germany, is expected to reach around 150 million doses per year before the end of this decade.
“This is a major step toward fulfilling our mission of becoming a leading global influenza vaccine manufacturer,” said Jean-Pierre Garnier, CEO of GSK. “We are actively working with governments and health authorities around the globe to support their plans for pandemic flu readiness and we are committed to bring the capabilities of our flu vaccine production facilities to the global preparation effort.”