London-based GSK and Osaka-based pharmaceutical company Shionogi have completed the transfer of New York-based Pfizer's stake in HIV-focused joint venture ViiV Healthcare, with Shionogi assuming an equal investment to establish a 22% interest in the venture, according to London South East.

Pfizer, which held a close to 12% stake in ViiV Healthcare, received $1.88 billion (€1.74 billion) and had its shares cancelled as part of the transaction. ViiV subsequently issued new shares worth $2.13 billion (€1.97 billion) to Shionogi, while GSK retained its 78% majority interest and received a special dividend of £250 million.

The transaction was first flagged in January, when GSK announced Pfizer's intention to withdraw from its ViiV investment and confirmed Shionogi as the replacement shareholder.

ViiV Healthcare specialises in HIV and AIDS treatment and prevention medicines, with a product portfolio of 15 prescription medicines targeting the human immunodeficiency virus. Last October, the UK's National Institute for Health and Care Excellence recommended ViiV's cabotegravir HIV prevention injection for patients unable to take similar oral medicines, underscoring the venture's growing therapeutic relevance.

The completion of the deal strengthens Shionogi's foothold in the HIV therapeutics space, where ViiV holds a significant global market presence. For GSK, retaining majority control while securing a committed long-term partner in Shionogi positions ViiV for continued investment in HIV medicine development.

GSK shares rose 2.9% to 2,123.00 pence in London following the announcement, while Shionogi shares closed up 4.6% to JPY3,627.00 in Tokyo.

View the complete report for further detail on the ViiV Healthcare ownership restructure..