The company paid €156 million at closing ($185.7 million USD) and could pay up to €500 million ($595.2 million USD) in milestone payments, which are contingent upon meeting certain drug development targets.
Previously, Fresenius announced it would pay €170 million upfront ($202.4 million USD), but said today that the slight cut in purchase price was related to R&D expenditures between signing and closing the acquisition.
The deal includes Merck’s entire development pipeline of biosimilars and a group of employees located in Aubonne and Vevey, Switzerland.
Merck’s biosimilars pipeline is focused on oncology and autoimmune diseases, Fresenius said, and all clinical studies for the pipeline are on track.
The company also reported that antitrust authorities have given the transaction the go-ahead without imposing conditions.
€1 = $1.19 USD