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Share Price: 1,766.50
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Ask: 1,766.50
Change: 36.50 (2.11%)
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Open: 1,735.50
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GSK to buy HIV drugs from Bristol-Myers Squibb

Fri, 18th Dec 2015 07:15

LONDON, Dec 18 (Reuters) - British pharmaceutical companyGlaxoSmithKline said it would buy HIV drugs at differentstages of development from U.S. rival Bristol-Myers Squibb in a deal which would boost its ViiV Healthcare unit.

GSK said it would pay an initial $317 million to buy thelate stage assets of Bristol-Myers's HIV research assets and $33million for the preclinical and discovery stage assets, withboth deals subject to further payments of over $500 milliondependent on commercial milestones.

HIV treatment is one of the strongest parts of GSK'sportfolio.

(Reporting by Sarah Young, Editing by Paul Sandle)

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