Merck KGaA officially launches Merck Serono

08 January 2007 08:55  [Source: ICIS news]

LONDON (ICIS news)--Merck KGaA on Monday officially launched Merck Serono after the closing of a share purchase agreement.

"With the combined innovative power of two strong companies, we have the unique opportunity to create a superb union of pharmaceutical chemistry and biotechnology," said Elmar Schnee, new chief executive of Merck Serono.

"We want to utilise the best of both companies. A total of 28 projects in clinical development, a combined R&D budget of approximately €1bn ($1.3bn) and the two key growth drivers Erbitux for oncology and Rebif for the treatment of multiple sclerosis, give us the best foundations for a successful future," he added.

Merck on 21 September said it had agreed to buy Swiss biopharmaceuticals company Serono in a deal valued at Swiss francs (SF) 16.6bn ($13.4bn/€10.3bn).

($1 = €0.77/$1 = SF1.23)

By: Staff Reporter
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