Once the deal concludes, Emergent will acquire raxibacumab, including corresponding product rights, regulatory approvals and intellectual property rights.
Under the deal, GSK will receive $76m upfront payment, as well as up to $20m in product sale and manufacturing-related milestone payments.
Emergent will also take the responsibility for a multi-year contract with the Biomedical Advanced Research and Development Authority (BARDA) to distribute Raxibacumab to the US Strategic National Stockpile (SNS). This contract is valued up to $130m.
Emergent BioSolutions president Daniel Abdun-Nabi said: “We look forward to establishing raxibacumab as an anchor FDA-approved product for our newly-expanded Bayview manufacturing facility in Baltimore, Maryland.”
Subject to customary closing conditions, the deal is expected to complete by the end of this year.
Separately, GSK has unveiled plans to invest around £140m by 2020 at its Ware, Hertfordshire, Barnard Castle, Co Durham and Montrose facilities to expand manufacturing operations for respiratory and HIV medicines.
The company is also reviewing options to divest cephalosporins antibiotics business, including the associated manufacturing facilities.
These medicines are currently manufactured at GSK sites in Ulverston, Cumbria, Verona in Italy, as well as at Barnard Castle site. GSK plans to outsource some manufacturing activity at its Worthing site.
The company is also planning to divest Horlicks brand in the UK and its associated manufacturing site in Slough.
In addition, the company intends to sell the MaxiNutrition brand in the UK and exploring options to divest some other smaller non-core nutrition brands.
The proposals announced for Worthing and Slough sited are expected to result in a reduction of around 320 permanent jobs over the next four years.
Image: GlaxoSmithKline head office, London. Photo: courtesy of Ian Wilson.