Alaric DeArment
THOUSAND OAKS
, Calif. Amgen has obtained exclusive rights to a program for investigational Type 2 diabetes drugs, the biotech company announced.
Amgen will pay Array BioPharma $60 million upfront plus milestone payments for the program, which covers a class of pharmaceutical drugs called glucokinase activators and includes ARRY-403, currently in phase 1 clinical trials.
Array will be responsible for completing the ARRY-403 trial and will have the option to co-promote the drug in the United States, while Amgen will be responsible for future clinical development and commercialization for the drug.
“Type 2 diabetes affects over 20 million Americans, and its incidence is increasing at an alarming rate,” Amgen EVP research and development Roger Perlmutter said. “We are pleased to be collaborating with Array BioPharma in this arena and are excited about the potential of this glucokinase activator.”
Merck Collaborates With U.S. Government To Advance Investigational Biological Therapy For COVID-19
KENILWORTH (NJ) (dpa-AFX) - Merck (MRK) has entered into an agreement with the U.S. Government to support the development, manufacture and initial distribution of an investigational biological therapeutic, to be named MK-7110, upon approval or Emergency Use Authorization from the FDA. Merck will receive up to approximately $356 million for manufacturing and supply of approximately 60,000-100,000 doses of MK-7110 to the U.S. Government through June 30, 2021. Merck is pleased to be collaborating with the U.S. Government to advance the manufacture and distribution of this candidate for patients with serious COVID-19 disease, said Dr. Roger Perlmutter, president, Merck Research Laboratories.
Original:
Merck & Co. (
MRK) - Get Report said Wednesday that it reached a $350 million agreement with the U.S. government to supply its developing coronavirus treatment as part of Operation Warp Speed.
Merck said the agreement would allow for the development, manufacture and distribution of the treatment, which is will named MK-7110, following its Emergency Use Authorization approval from the Food & Drug Administration. Merck acquired the treatment last month through its $425 million takeover of Rockville, Maryland-based Oncolmmune, which said its developing therapy can sharply reduce the risk of death or respiratory failure in patients suffering from severe forms of COVID-19.
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