Deal hands over Bristol-Myers Squibb’s entire HIV pipeline as the company looks to quit virology research

Bristol-Myers Squibb (BMS) has agreed to sell its entire portfolio of investigational HIV drugs as the company seeks to exit research in virology.

ViiV Healthcare – a joint venture predominantly owned by GlaxoSmithKline – will pay $350 million (£240 million) up front, performance milestones of up to $518 million for products already in clinical trials and up to $587 million for discovery and pre-clinical programmes. For any successful drugs that are commercialised, ViiV will pay an extra $700–750 million in sales milestones, plus royalties.

Approximately 20 BMS employees are being offered the option of transferring to ViiV along with the projects.