ViiV In-Licenses Third-Gen HIV Targeting Compound From Shionogi

ViiV Healthcare, majority-owned by GlaxoSmithKline plc GSK, Pfizer Inc PFE, and Shionogi, has announced an exclusive collaboration and license agreement with Shionogi & Co Ltd for S-365598 for use in ultra long-acting HIV regimens.
S-365598 is a third-generation integrase strand transfer inhibitor with the potential for regimens with three months or longer dosing intervals.
Under the agreement terms, ViiV Healthcare will make an upfront payment of £20 million to Shionogi, £15 million as milestone payments, and royalties on net sales.
Shionogi will contribute to development costs up to an annual maximum.
First-in-human trials are slated for 2023.
Price Action: PFE stock is down 1.94% at $42.73, and GSK stock is down 1.31% at $38 during the market session on the last check Tuesday.