Merck Pharmaceuticals from Germany and Takeda Pharmaceuticals from Japan to colloborate in marketing of Merck's cancer drug Matuzumab.
Matuzumab is developed by Merck which is in its Phase II clinical tiral. Takeda Pharmaceuticals will sign agreement with Merck to give royalty and sale benefits from the sale of Matuzumba. Takeda will pay 60 million euros to Merck with an addition of royalty.
"Merck KGaA and Takeda Pharmaceutical have entered into a co-development and co-commercialization agreement for Merck's Matuzumab," the German company said in a statement.
Matuzumab was developed by Merck and currently is in Phase II clinical trials in patients with lung, gastric and colorectal cancers. Merck said it had decided to enter into cooperation with Takeda "in order to put more resources and expertise toward this important product". "Takedas experience and commitment in the field of oncology makes it a perfect fit with Merck, " it said.
"This collaboration with Takeda, Japans largest pharmaceutical company, will allow us to move ahead quickly with development and commercialisation of this potentially important product for cancer patients," said the head of Merck Ethical Pharmaceuticals, Elmar Schnee.
Source: Indo-Asian News Services