Merck to Return Safinamide Rights to Newron
In Merck’s view, safinamide has a more limited market potential than originally anticipated and the decision was made as part of the ongoing review and re-prioritization of its R&D pipeline.
Germany-based Merck KGaA has decided to return all rights for safinamide to Italy's Newron Pharmaceuticals S.p.A. Merck’s decision was made as part of the ongoing review and re-prioritization of its R&D pipeline.
Merck had acquired exclusive worldwide rights to develop, manufacture and commercialize safinamide in Parkinson’s disease and other therapeutic applications, pursuant to its agreement with Newron signed in 2006.
The termination of this agreement will become effective in April 2012 and will result in approximately €40 million of additional costs for the Merck Serono division in the fourth quarter of 2011. These costs will be excluded from both the division’s and the Merck Group’s fourth quarter underlying core operating result.
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