Glaxo vaccines and Brazil sign agreement for 1,500 mln euros: medium

GlaxoSmithKline PLC sealed an agreement of 1,500 million euros (1,380 million pounds) in Brazil which guarantees the sale of its pneumococcal vaccine for the entire legal life of the product, said on Monday the Financial Times.

GSK will receive an initial price of the vaccine designed to prevent neumonia and meningitis, 11.5 euros, a value will fall to 5 euros in future years, the newspaper said.

The agreement is seen as a milestone, since most drugs are sold for shorter periods and have a price structure more uncertain, the newspaper added.

We also face competition from cheaper rivals.

GSK said earlier this month that he was forming an alliance with Brazil's Fiocruz for vaccine development Synflorix