Merck on 12th Feb announced that they are buying Insmed for $130 million that includes Insmed’s portfolio of follow-on biologic therapeutic candidates, as well as a manufacturing facility.
Insmed agreed to sell its pipeline of “biosimilars” which are drugs that are attempted copies of biotech drugs made from living cells.
The transaction, once it’s completed, will transfer Richmond, Va.-based Insmed’s research and production facility in Boulder to Merck. The Boulder plant’s 80 employees will be offered jobs to continue their work under Merck’s ownership, Insmed said.
The deals is expected to speed-up Merck's entry into Biologics. Merck will pay Insmed $10 million upfront, and will make the rest of the payment when the deal is closed. Merck will not owe any additional milestone or royalty payments.
Source: Dynamicpatents, Bizjournals
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