Vir Biotech To Work On Next-Gen COVID-19 Solutions Independently, Or With Other Partners, As GSK Walks Out

Vir Biotechnology Inc VIR has amended the research collaboration agreement established with GSK plc GSK in 2020.
Vir will continue its ongoing efforts to discover, develop and advance COVID-19 solutions and other potential coronavirus outbreaks, independently or with other partners.
The companies will continue working to ensure ongoing access to sotrovimab for patients worldwide, where authorized, and to develop new therapies for influenza and other respiratory diseases.
In August 2022, Vir and GSK said they do not plan to file a marketing application for sotrovimab for COVID-19, citing evolving COVID-19 landscape and FDA discussions.
In April 2022, the FDA said the companies' sotrovimab is no longer authorized to treat COVID-19 in any U.S. region due to increases in COVID-19 cases caused by the Omicron BA.2 sub-variant.
In April 2020, GSK and Vir collaborated to research and develop solutions for coronaviruses.
In 2021, the companies expanded their collaboration to include researching and developing new therapies for influenza and other respiratory viruses.
Under the terms of the new amended agreement, Vir retains the sole rights to the solutions arising from the collaborative coronavirus vaccine and antibody programs, subject to tiered low- to mid-single-digit royalties to GSK.
Price Action: VIR shares are down 1.53% at $25.78, and GSK shares are up 0.17% at $36.28 during the premarket session on the last check Tuesday.