Terms weren't disclosed, but Madison, N.J.-based Wyeth said it got "an undisclosed amount in cash at closing in exchange for the manufacturing facility." The Marietta, Pa., facility was closed Dec. 31, Wyeth said. Glaxo said it would reopen the plant and employ 270 workers there.
"GlaxoSmithKline can help boost the availability of vaccines for Americans in the future by growing our research and manufacturing capacity in Pennsylvania and the United States today," said Glaxo chief J.P. Garnier. "We are working hand in hand with government officials to help meet public health needs by expanding our capabilities as a reliable supplier of vaccines for the U.S."
On Thursday, Glaxo rose 75 cents to $49.47, and Wyeth rose 6 cents to $45.85.