Merck & Co., Inc. (MRK) Ditches Bone Drug Deal with Japan Tobacco, Inc.
10/17/2011 8:36:16 AM
Merck & Co has ended a licensing agreement with Japan Tobacco to develop and market an experimental agent that stimulates bone growth for the treatment of osteoporosis, which the Japanese company said it would now drop from development. Japan Tobacco said the decision would have a minor impact on its earnings, although it gave no details. The two firms concluded the deal in 2008, giving Merck worldwide rights outside of Japan to develop and market the Japan Tobacco compound.