Merck to Acquire GlycoFi & Abmaxis
Merck to Acquire GlycoFi & Abmaxis
Merck to Acquire GlycoFi & Abmaxis
Merck & Co. agreed to acquire GlycoFi Inc., a closely held
The purchase announcements came two weeks after the company's chief executive, Richard T. Clark, promised shareholders big changes to Merck, which has been wounded in litigation over heart problems caused by its pain medication Vioxx.
The
GlycoFi was founded in 2000 and has about 55 employees. Its investors include Polaris Venture Partners, SV Life Sciences, Boston Millennia Partners, and Fletcher Spaght Ventures.
Separately, Merck agreed to pay $80 million for closely held Abmaxis Inc., a
Shares of Merck fell 2 cents, to $34.43.
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