Merck successfully closes biosimilars transaction
Step towards strategic alignment of R&D resources to Healthcare priorities.
Merck has completed the divestment of its biosimilars business to Fresenius after having received regulatory approvals. The decision to divest Biosimilars is aligned with Merck’s strategy for its Healthcare business sector to focus on its pipeline of innovative medicines in oncology, immuno-oncology and immunology.
“The transaction is part of our continued active portfolio management and marks another step in the transformation of Merck into a science and technology company”, said Stefan Oschmann, Chairman of the Executive Board and CEO of Merck. “We are pleased having achieved the closing of this transaction, which will further enable full focus of our R&D resources on well-defined strategic pillars as our biopharma pipeline continues to deliver”, said Belén Garijo, Member of the Executive Board of Merck and CEO Healthcare.
Merck receives an upfront payment of 156 million €, milestone payments of up to €500 million plus royalties on future product sales, according to the terms agreed. Merck and Fresenius entered into supply and services agreements, which include drug development support and manufacturing services for biosimilars. The biosimilars business was part of the Healthcare businesses sector of Merck. It is located in Vevey and Aubonne in Canton de Vaud, Switzerland. The business is developing a biosimilars portfolio focused on oncology and inflammatory disorders. Following the completion of the transaction both biosimilars sites continue to operate in Vevey and Aubonne.
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