Posted on 05/01/2010 in Pharmaceutical Company Restructures Merck Sharp & Dohme has entered into a definitive agreement with fellow pharmaceutical firm Avecia which will see it purchase the company's biologics business.
In a statement, the company explained that the financial details of the transaction have not been made available and that it will acquire the business through its affiliate Merck Sharp & Dohme (Holdings) Limited.
Under the terms of the deal, Merck Sharp & Dohme will obtain Avecia Biologics Limited and all of its assets, including its manufacturing and business support operations, which are located at Billingham in the UK.
Steve Bagshaw, president of Avecia Biologics, said: "This acquisition recognizes these successes and now provides the exciting opportunity to focus on advancing Merck's broad early and mid-stage portfolio of biologic candidates."
In other news, Merck Sharp & Dohme announced that Dr Julie Gerberding will take on the role of president of its vaccines division on January 25th.Other news stories from 05/01/2010
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