GlaxoSmithKline (GSK) could be looking to at new ways to develop medical technologies with Qualcomm, reports Bloomberg Business
GSK, the UK pharmaceuticals company has hired lawyers to help negotiate the terms of a joint venture with the US chipmaker, Qualcomm, according to the Financial Times.
There is speculation being reported by both Bloomberg and the Financial Times that the negations between GSK and Qualcomm could create a pharmaceutically-driven digital device.
Technology companies have been increasingly collaborating with pharmaceutical companies in the drive to produce wearables and devices that can monitor or deliver drugs.
Earlier in January Qualcomm announced that it would be collaborating with Novartis on a digital inhaler to monitor COPD and in September Otsuka Pharmaceutical Development collaborated with Proteus to create the first FDA NDA accepted combination pill that holds both a drug and a digital sensor.
The Financial Times also reported that the venture being discussed is potentially worth up to £697.7m ($1bn), however Bloomberg said that the talks are currently preliminary and nothing has been decided.
Representatives for GSK and Qualcomm declined to comment.