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LONDON-- GlaxoSmithKline PLC (GSK.LN) said Monday it is

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TREND1 Member Level  Friday, 06/26/15 10:26:49 PM
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LONDON-- GlaxoSmithKline PLC (GSK.LN) said Monday it is selling its meningitis vaccines Nimenrix and Mencevax to Pfizer Inc's (PFE) Irish subsidiary for 115 million euros ($130.6 million).

Glaxo said it is selling the vaccines to gain regulatory approval for a deal with Novartis AG (NVS) that includes Glaxo buying Novartis's vaccines business.

Nimenrix and Mencevax, which are sold outside the U.S. and achieved combined global sales in 2014 of 34 million pounds ($54 million), Glaxo said.

Shares at 1115 GMT, up 16 pence, or 1.2%, at 1,374 pence valuing the company at GBP66.8 billion.

-Write to Rory Gallivan at rory.gallivan@wsj.com; Twitter: @RoryGallivan


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