Glaxo (GSK) and Pfizer aim to create a new HIV drug company. Both drugs have a financial stake in the matter as both entities’ current products are essentially devoid of further innovation. GSK’s lack of new product (it’s already the largest manufacturer of HIV agents) but worldwide marketing heft would advantageously assist the struggling Pfizer, a pharma company whose HIV pipeline is relatively weak by comparison. 

Under the agreement, Glaxo will have an initial 85.0% stake in the joint venture while Pfizer will hold a 15.0% stake. The new company, which is still unnamed, will be based in London, and will have an initial working capital of 250 million pounds ($370 million). 

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