GlaxoSmithKline (GSK) and Jiangsu Walvax Biotech Company have announced a long-term joint venture to develop and manufacture paediatric vaccines for use in China.
Together, GSK and Walvax will produce vaccines for measles, mumps and rubella. The venture also includes a transfer of technology from GSK and the construction of a manufacturing facility to enable local vaccine production over time.
GSK Biologicals president Jean Stephenne said that GSK is establishing local production capacity in advance of the significant expansion in the Chinese public vaccine market.
"Together with Walvax, we can support China's goals to accelerate vaccination and save children from preventable diseases," Stephenne said.
The companies will invest a total of £41.2m in the venture. GSK will initially invest £20.1m at the start with an additional £7.3m to be invested in 2015. Walvax will invest a total of £13.8m.