GSK to sell meningitis vaccines to Pfizer Ireland

GlaxoSmithKline said on Monday that it is selling its meningitis vaccines Nimenrix and Mencevax to Pfizer Ireland Pharmaceuticals - a subsidiary of Pfizer Inc - for €115m. The sale follows commitments given to the European Commission and other regulators in connection with the merger control clearances obtained for GSK's three-part transaction with Novartis, which completed on 2 March.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 US and achieved combined global sales in 2014 of £34m.The agreement with Pfizer Ireland is subject to final European Commission approval, other regulatory approvals and other customary closing conditions, which GSK said it hopes to receive in the coming months.The sale is expected to be completed before the end of the year.At 12:59, GSK shares were up 0.9% at 1,369.50p.