logo
Share SHARE
FONT-SIZE Plus   Neg

AstraZeneca Exercises Option To Buy Merck's Interest In PPI Products - Quick Facts

Merck & Co. Inc. (MRK: Quote) announced that it has been advised by AstraZeneca (AZN: Quote,AZN.L) that it would exercise the option to obtain Merck's interest in AstraZeneca's non-proton pump inhibitor or non-PPI products in 2010. The products are Atacand, Lexxel, Plendil and Entocort plus certain products currently in clinical development. Further, Merck noted that it would receive a payment of $647 million in April, which represents the net present value as of March 31, 2008 for the company's share of the projected pretax revenue for the non-PPI products. Hence, AstraZeneca would have an option to acquire Merck's interest in the PPI products, including Nexium, in 2012, or later, under certain circumstances.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

comments powered by Disqus
Follow RTT