 "Stefan Oschmann, chairman & CEO of Merck")
Germany-based science and technology company Merck has divested its biosimilars business to Fresenius Kabi as part of Merck’s strategy for its healthcare business to focus on the pipeline of innovative medicines.
As per the agreement, Merck will receive an upfront payment of € 170 million, milestone payments of up to € 500 million plus royalties on future product sales. The parties agreed to enter into supply and services agreements, which include drug development support and manufacturing services. Closing is expected in the second half of 2017, subject to regulatory approvals and other customary closing conditions.
“Developing and marketing innovative products and services
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