|
Merck KGaA wins GSK for
immunotherapy deal worth up to $4.2 billion
Send a link to a friend
[February 05, 2019]
FRANKFURT (Reuters) - GlaxoSmithKline
bolstered its cancer drug development pipeline, agreeing to pay up to
3.7 billion euros ($4.22 billion) to Germany's Merck KGaA for the rights
to a novel immunotherapy.
|
|
 Merck will receive an upfront payment of 300 million euros for the
drug known as M7824 and is eligible for potential development
milestone payments of up to 500 million euros, the two companies
said in statements on Tuesday.
Merck will also be eligible for further payments of up to 2.9
billion euros, depending on commercial milestones, for a total deal
value of up to 3.7 billion euros.
[to top of second column] |
Merck's shares traded 1.8 percent higher at 1218 GMT while the
German blue-chip index DAX was up 1.1 percent.
($1 = 0.8758 euros)
(Reporting by Ludwig Burger; editing by Thomas Seythal)
[© 2019 Thomson Reuters. All rights
reserved.] Copyright 2019 Reuters. All rights reserved. This material may not be published,
broadcast, rewritten or redistributed.
Thompson Reuters is solely responsible for this content. |
