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Merck & Co., Inc.
Drug Names(s): PS386113
Description: PS386113 is a proprietary small molecule with an undisclosed mechanism of action.
Deal Structure: PS386113 is a compound identified from the collaboration between Schering-Plough and Pharmacopeia. According to terms of their collaboration, Schering-Plough is solely responsible for further development and commercialization of this drug candidate. Pharmacopeia is eligible to receive additional milestone payments if the program advances further in clinical trials, and will also receive royalties on sales of any resulting therapeutic products incorporating compounds derived from the program.
In September 2008, Ligand Pharmaceuticals announced that it entered into a definitive merger agreement to acquire Pharmacopeia in a deal valued up to $70 million.
In December 2008, Ligand Pharmaceuticals announced that it has completed the acquisition of Pharmacopeia.
In March 2009, Merck & Co and Schering-Plough announced that their Boards of Directors have unanimously approved a definitive merger agreement under which Merck and Schering-Plough will combine, under the name Merck, in a...See full deal structure in Biomedtracker
Partners: Ligand Pharmaceuticals, Inc.
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