Merck & Co Acquires Istituto Gentili
In a move that is expected to strengthen its position in the Italianmarket, the US pharmaceutical company Merck & Co has bought "substantially all" of the stock of Istituto Gentili. Merck can acquire the remaining stock over time.
Merck and Istituto Gentili jointly developed alendronate, which is approved in the USA as Fosamax for the prevention and treatment of osteoporosis in post-menopausal women (Marketletter May 5).
The agreement enables Merck to secure the intellectual property rights for alendronate, and also expand in Europe. Merck says it is the fastest-growing drug company in Europe with a growth rate in 1996 double that of the overall prescription drug market.
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