Merck & Co returns vernakalant rights to Cardiome

27 September 2012

Canada-based Cardiome Pharma (Nasdaq: CRME) saw its shares go into free-fall, dropping 54.4% to close at $0.88, after the company revealed that its partner, drug giant Merck & Co (NYSE: MRK), will return the global marketing and development rights for both the intravenous (IV) and oral formulations for vernakalant, a treatment for chronic atrial fibrillation, to Cardiome.

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