GSK and Pfizer launch new firm

GlaxoSmithKline and Pfizer yesterday announced the launch of a new HIV company, ViiV Healthcare, dedicated to delivering advances in HIV treatment. Chief executive Dominique Limet yesterday promised a “relentless pursuit” of new treatments. The new company has a mandate to pool the two firms’ existing HIV treatments and drug pipelines. GSK is contributing 90 per cent of £250m start-up costs and will be the major shareholder.