Pharma powerhouse GSK and Shionogi & Co have reached a landmark agreement with Pfizer that will see Shionogi increase its economic interest in ViiV Healthcare Limited to 21.7%, while GSK retains its 78.3% majority stake. Pfizer’s current 11.7% holding in ViiV Healthcare will be replaced by Shionogi’s investment.

 

Under the deal, ViiV Healthcare will issue new shares to Shionogi for $2.125 billion and cancel Pfizer’s holding. Pfizer will receive $1.875 billion, while GSK will receive a special dividend of $250 million payable in GBP.

 

Shionogi will continue to hold one seat on the ViiV Healthcare Board, represented by Dr. John Keller, who has served as a Director since 2012.

 

David Redfern, Chair of ViiV Healthcare, commented: “This agreement simplifies ViiV’s shareholder structure and we look forward to continuing our highly successful collaboration with Shionogi to advance ViiV’s pipeline and portfolio of long-acting injectable HIV treatment and prevention medicines. GSK would also like to thank Pfizer for its longstanding partnership in the development of ViiV since its establishment in 2009.”

 

Dr. John Keller, Director of the Board and Senior Vice President at Shionogi, added: "Shionogi is dedicated to addressing major infectious diseases, with HIV being one of our most important focus areas, as reflected by our role in the discovery of the innovative integrase inhibitors dolutegravir and cabotegravir. 

 

"Our ongoing HIV research continues to contribute to ViiV’s pipeline through licensing agreements, as is the case for the third-generation integrase inhibitor S-395598/VH 4524184. We are delighted to further deepen our strategic partnership with GSK and ViiV through this agreement, redoubling our commitment and participation in improving the lives of people living with or affected by HIV.”

 

ViiV Healthcare, a global specialist HIV company, focuses on advancing treatment and prevention for people living with HIV. Completion of the transaction is subject to regulatory approvals and is expected in the first quarter of 2026. GSK will extinguish Pfizer’s put option liability through retained earnings, with any fair value adjustments recognized as part of other operating income.