International life sciences team advises ViiV Healthcare in its arrangements to acquire Bristol-Myers Squibb HIV R&D assets

An international life sciences transactions team from Norton Rose Fulbright recently advised ViiV Healthcare in its purchase of Bristol-Myers Squibb’s late-stage HIV research and development assets and, in a separate deal, in its agreement to acquire Bristol-Myers Squibb’s HIV portfolio of pre-clinical and discovery stage research assets.

The late-stage asset purchase comprises an upfront payment of US$317 million, followed by development and first commercial sale milestones of up to US$518 million, and tiered royalties on sales. The purchase of pre-clinical and discovery stage research assets comprises an up front payment of US$33 million, followed by development and first commercial sales milestones of up to US$587 million, and further consideration contingent on future sales performance. Each deal is subject to clearance by the regulatory authorities, and each is expected to complete in early 2016.

New York life sciences partner Andres Liivak led the team representing ViiV Healthcare. Additional Norton Rose Fulbright lawyers providing support included Toronto corporate associate Sara Josselyn, New York tax partner Michael Flamenbaum, Houston employee benefits senior counsel Scott Keys, London corporate senior associate George Cameron, London corporate senior associate James Baillieu, Houston employee benefits partner Mark Miller and New York real estate partner Douglas Danzig.

Established by GlaxoSmithKline and Pfizer Inc. in November 2009, ViiV Healthcare is a global specialist HIV company dedicated to delivering advances in treatment and care for people living with HIV. Shionogi Limited joined as a shareholder in October 2012.