GSK PLC agreed to pay up to $3.3 billion to acquire vaccine maker Affinivax Inc., in a deal that would hand thea new vaccine technology targeting common bacterial diseases such as meningitis and pneumonia.
The British pharmaceutical company, formerly known as GlaxoSmithKline, said it would pay $2.1 billion upfront to buy the Boston-based company, with a further $1.2 billion in what it called milestone payments if Affinivax meets certain goals.