Pfizer Sells ViiV Stake for USD 1.9 Billion, Shionogi Emerges Bigger Partner

Pfizer in ​December had warned that the next few years would be bumpy, ‌beginning with 2026, ‍due to lower sales of its COVID vaccine ‍and treatment, price cuts promised to the U.S. government, ‌and the expiration of patents on key drugs. It does not expect to return to revenue growth until 2029.

ViiV Healthcare Chair David Redfern said the deal simplifies the shareholder structure and allows the company to continue its collaboration with Shionogi to advance long-acting injectable HIV treatment and prevention medicines.

Pfizer will receive $1.88 billion ‍for its 11.7% holding, and GSK will get a special dividend of $250 million as ViiV cancels the U.S. drugmaker's ‍shares. GSK established ⁠ViiV Healthcare with ⁠Pfizer in 2009, with Shionogi joining as a shareholder in 2012.

Shionogi will continue to have one seat on the ViiV Healthcare board, and will be represented by John Keller, who has been a Director of ViiV Healthcare since 2012, GSK and Shionogi said in a joint statement.

The transaction is subject to regulatory clearances and is expected to complete during the first quarter of 2026, the companies said.