Oncology

Merck sells biosimilars business to Fresenius Merck has divested its biosimilars business to fellow German drug maker Fresenius in a deal potentially worth 670 million euros. The drug maker said the move is aligned with a strategy of focusing on innovative medicines while enabling it to exploit its biosimilars portfolio - which is focused on cancer and anti-inflammatory medicines - to full potential. Merck will bank an upfront fee of 170 million euros and milestone payments of up to 500 million euros under the deal, as well as royalties on future product sales. The parties have also agreed to enter into supply and services agreements, which include drug development sup...