Merck & Co., Inc. Acquires Biologic Manufacturing Capabilities and Developmental Follow-on Biologics Portfolio from Insmed
12 Février 2009 - 1:00PM
Business Wire
Merck & Co., Inc. today announced that it has entered into a
definitive agreement with Insmed Inc. (Nasdaq CM: INSM), to
purchase Insmed's portfolio of follow-on biologic therapeutic
candidates and its commercial manufacturing facilities located in
Boulder, Colo. (Boulder facilities).
"Insmed's pipeline of follow-on biologic candidates presents the
opportunity to expedite Merck's entry into the biologics
marketplace as well as providing unique manufacturing resources and
an experienced team of protein experts," said Frank K. Clyburn
senior vice president and general manager Merck BioVentures. "This
agreement represents a strong strategic fit for Merck as we
aggressively expand and advance our portfolio of developmental
follow-on biologics."
Under the terms of the agreement, Merck, through an affiliate,
will pay Insmed $130 million in cash to acquire all rights to the
Boulder facilities and Insmed's pipeline of follow-on biologic
candidates. The Boulder facilities comprise 50,000 square feet of
biologics process development analytical laboratory and
manufacturing facilities. Insmed's follow-on biologics portfolio
includes INS-19, an investigational recombinant granulocyte-colony
stimulating factor (G-CSF) that will be evaluated in Phase III
clinical trials for its ability to prevent infections in patients
with cancer receiving chemotherapy and INS-20, a pegylated
recombinant G-CSF designed to allow for less frequent dosing, that
is currently in Phase I clinical trials.
The agreement provides for initial payments of up to $10 million
for INS-19 and INS-20. Merck will pay Insmed the remaining balance
upon closing of the transaction, without any further milestone or
royalty obligations. Merck plans to offer positions to staff at the
Boulder facilities.
About Merck BioVentures
In December 2008, Merck announced the establishment of a new
division called Merck BioVentures, which capitalizes on the
Company�s industry-leading expertise in the manufacture of
biologics, as well as proprietary technologies that streamline the
production of protein-based therapies. By combining Merck�s
traditional strengths with the latest scientific innovations in
protein manufacturing, Merck BioVentures will position the Company
as a leader in the emerging field of follow-on biologics and
provides a strong foundation for the development of novel protein
therapeutics.
About Merck
Merck & Co., Inc. is a global research-driven pharmaceutical
company dedicated to putting patients first. Established in 1891,
Merck discovers, develops, manufactures and markets vaccines and
medicines to address unmet medical needs. The Company devotes
extensive efforts to increase access to medicines through
far-reaching programs that not only donate Merck medicines but help
deliver them to the people who need them. Merck also publishes
unbiased health information as a not-for-profit service. For more
information, visit www.merck.com.
Forward-Looking Statement
This news release contains "forward-looking statements" as that
term is defined in the Private Securities Litigation Reform Act of
1995. These statements are based on management's current
expectations and involve risks and uncertainties, which may cause
results to differ materially from those set forth in the
statements. The forward-looking statements may include statements
regarding product development, product potential or financial
performance. No forward-looking statement can be guaranteed, and
actual results may differ materially from those projected. Merck
undertakes no obligation to publicly update any forward-looking
statement, whether as a result of new information, future events or
otherwise. Forward-looking statements in this news release should
be evaluated together with the many uncertainties that affect
Merck's business, particularly those mentioned in the risk factors
and cautionary statements in Item 1A of Merck's Form 10-K for the
year ended Dec. 31, 2007, and in any risk factors or cautionary
statements contained in the Company's periodic reports on Form 10-Q
or current reports on Form 8-K, which the Company incorporates by
reference.
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