Pharmaceutical giant Glaxosmithkline have joined forces with US rival Pfizer to combat the global threat of HIV and AIDS.
The partnership deal, which is a first for the industry in terms of scale and co-operation, involves 11 products with global sales of £1.6 billion moving into a new company, according to the Daily Telegraph Business.
The union will see both companies share responsibility for research and treatment development, edging towards a possible vaccine or eventual cure.
Andrew Witty, GSK chief executive hailed the move as a "milestone" for people living with the virus. Currently, it kills 5,000 people every day.
Together, both companies have a solid background in advanced, progressive treatments such as GSK's Combivir and Kivexia, which slow the effects of the HIV virus, alongside Pfizer's own version, Selzentry, which has also garnered critical acclaim.
However, the news has been welcomly received with caution by leading AIDS charities.
Sir Nick Partridge, Chief Executive for Terrence Higgins Trust said: “Terrence Higgins Trust welcomes any move which will strengthen HIV research and development and benefit people living with HIV. We need to be making constant advances to stay one step ahead of the virus. With over 33 million people living with HIV worldwide it’s essential that we continue to see innovative new treatments coming onto the market.”
Deborah Jack, the chief executive of the National Aids Trust,
warned: “It is essential that reduced competition in the market does not
drive up the price of HIV drugs.
“We would also ask for reassurance that the separation of HIV into a
standalone company will not result in disinvestment in R&D in the longer
term. HIV remains one of the most pressing health challenges globally and
requires significant and sustained investment.”