GlaxoSmithKline (JOBS) to Buy Stake in Intercell AG in Vaccines Alliance; Glaxo to Pay 33.6 Million Euros ($49.5 Million)

Bloomberg) -- GlaxoSmithKline Plc will buy a stake in Austria’s Intercell AG in a move that analysts said underscores drugmakers’ growing interest in vaccines. Glaxo will pay 33.6 million euros ($49.5 million) as part of the alliance to develop and market Intercell’s needle-free, patch-based immunizations for traveler’s diarrhea and pandemic influenza. The London-based drugmaker also will buy as much as 5 percent of Intercell for up to 84 million euros via a staggered shareholding option, the companies said in a statement today.