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Highlights:

  • GSK to receive GBP 370 million upfront and 1% US royalty from BioNTech-Pfizer mRNA vaccine sales
  • GSK may receive an additional GBP 130 million and royalties if CureVac acquisition by BioNTech closes
  • GSK retains rights to continue separate patent litigation against BioNTech and Pfizer

GSK plc (LON:GSK), a global biopharmaceutical company headquartered in the UK, has announced financial terms related to a recently disclosed mRNA patent settlement between CureVac and BioNTech. As part of this agreement, GSK will receive a total of GBP 370 million upfront, along with ongoing royalty payments from mRNA vaccine sales in the US. These payments are made under GSK’s existing license agreement with CureVac.

Of the total GBP 370 million, GBP 320 million will be paid to GSK in cash, while the remaining GBP 50 million reflects the value of an amendment to GSK’s agreement with CureVac. The amended agreement includes a significant reduction in royalty obligations that GSK would otherwise owe on potential future mRNA-based influenza, COVID-19, and combination vaccine products. These revised terms are expected to improve future cost efficiency for GSK if its mRNA vaccine candidates proceed to commercialisation. Additionally, GSK will receive a 1% royalty on US sales of mRNA influenza, COVID-19, and combination vaccines sold by BioNTech and Pfizer. The royalty payments apply from the beginning of calendar year 2025. This settlement is related to patent rights licensed by GSK from CureVac, and it does not affect any independent intellectual property claims GSK holds directly.

Further payments could arise if BioNTech’s proposed acquisition of CureVac is completed. Should the acquisition close, GSK will be entitled to an additional GBP 130 million in cash as well as a 1% royalty on ex-US sales of the relevant mRNA vaccines by BioNTech and Pfizer. GSK would also benefit from reductions in milestone and royalty obligations on any sales of its own mRNA products outside the US under the amended agreement. GSK confirmed that the GBP 370 million upfront payment will be recorded in the company’s third-quarter 2025 results as “other operating income,” classified as an adjusting item on the income statement. The royalty income from 2025 onwards will be reflected in both total and core results going forward.

Importantly, this settlement does not affect GSK’s own legal actions related to its mRNA patent portfolio. The company stated that it will continue to pursue separate litigation against BioNTech and Pfizer in both the US and Europe for alleged infringement of GSK’s independent patents. In connection with the CureVac acquisition, GSK has also agreed to tender its approximately 16.6 million shares in CureVac as part of a customary tender and support agreement. The shares will be offered in the upcoming transaction between BioNTech and CureVac.

GSK continues to develop its own pipeline of mRNA-based vaccines, particularly targeting influenza and COVID-19. The licensing agreement with CureVac, first established in 2020, forms part of GSK's broader mRNA strategy. However, the company clarified that the CureVac-BioNTech settlement is distinct from GSK’s own intellectual property enforcement actions currently underway. ]

GSK is trading 1.16% higher at GBX 1,399.00 per share as of 8 August 2025.