GSK strikes agreement with China's SBP Group, launches final tranche of buyback programme

(Sharecast News) - Drugmaker GSK said on Monday that it has struck an exclusive agreement with Sino Biopharmaceutical subsidiary Chia Tai Tianqing Pharmaceutical to accelerate its chronic hepatitis B treatment, bepirovirsen, in mainland China.

GSK said that under the agreement, CTTQ will be responsible for importation, distribution, hospital access, and promotional and non-promotional activities for bepirovirsen in mainland China, while it will remain the marketing authorisation holder and retain responsibility for regulatory, quality, pharmacovigilance and global medical strategy.

The FTSE 100-listed firm also noted that the agreement grants it the ability to review certain early-stage pipeline assets of the SBP Group to evaluate the potential for collaboration opportunities outside China

GSK's Mike Crichton said: "Chronic hepatitis B affects 75m people in China and is a leading cause of liver cancer in the country. By combining GSK's innovation with CTTQ's extensive local scale and execution, we want to reach more patients, deliver greater impact, and directly address one of China's most pressing healthcare priorities."

Separately, GSK launched the fifth and final tranche of its £2bn share buyback programme, with up to roughly £180m expected to commence on 11 May and conclude by 26 June. To date, GSK has repurchased 114.43m ordinary shares for approximately £1.82bn.

As of 0805 BST, GSK shares were up 0/84% at 1,858.50p.

Reporting by Iain Gilbert at Sharecast.com

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