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HEALTHCARE: Glaxo (GSK: A2/A): Chinese Vaccine Strategy

HEALTHCARE

Positive but unlikely to move spreads.

  • GSK and Zhifei have revised and extended their collaboration to 2034 for Shingrix (Shingles vaccine)
  • Zhifei is China's largest vaccine co by revenue with 30,000 vaccination points across the country
  • Over the 2024-29 period Zhifei will purchase around £2.3bn of Shingrix
  • GSK's total annual sales of Shigrix are £3.3bn so this gives certainty over around 10% of that demand. Shingrix is 10.7% of overall revenue.
  • Only 1.2% of urban population aged 50-74 has been vaccinated so far
  • The 2 companies will also explore cooperation on Arexvy (RSV)

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