Merck & Co forks out $400M to buy GlycoFi

Merck & Co says it has entered into a definitive agreement to acquire the privately-held biotechnology firm GlycoFi, which specializes in the field of yeast glycoengineering and optimizing of biologic drug molecules and which has partnered with the US drug major since late-2005.

Under the terms of the merger accord, Merck will acquire 100% of the equity of GlycoFi, which will become a wholly-owned subsidiary. The all-cash transaction is valued at approximately $400.0 million and is expected to close in the second quarter of 2006, subject to customary closing conditions and clearance under the Hart-Scott-Rodino Anti-Trust Improvements Act.

...and $80M for Abmaxis