FDAnews Drug Daily Bulletin

MERCK TO BUY TWO BIOLOGICS COMPANIES

May 18, 2006
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Merck has entered into agreements to purchase both Abmaxis and GlycoFi in a move the company said will increase its presence in the growing field of biologic drugs.

Merck will spend $480 million for the two privately held companies. Abmaxis specializes in discovery and optimization of monoclonal antibody (Mab) products. GlycoFi's expertise is yeast glycoengineering, the ability to make certain proteins in yeast. That purchase is subject to clearance under antitrust laws.

Merck has collaborated on products with both companies in the past.