More COVID-19 Headwinds In 2021 For GlaxoSmithKline
Company Sacrificing Profits To Invest In R&D
The UK-headquartered company is in transition, investing heavily in biopharma R&D and preparing to spin out its consumer division.
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The shingles vaccine’s move to health care practices, as well as inventory moves, contributed to its 41% sales growth during the quarter after a difficult year due to COVID-19.
The agreement focuses on respiratory viruses, especially influenza, and includes a $225m upfront payment plus an increase in GSK’s equity investment in Vir.
After major setbacks to its existing COVID-19 vaccine platform, GSK is expanding its presence in mRNA, which increasingly looks to be the future.