AstraZeneca To Pay Merck $647M For Drug Stake

Law360, New York (March 1, 2010, 5:01 PM EST) -- AstraZeneca PLC will pay $647 million to exercise its option for Merck & Co. Inc.'s share in the U.K.-based pharmaceutical company's nonproton pump inhibitor drugs used mainly to treat high blood pressure, Merck said Monday.

The payment covers Merck's interest in hypertension drugs Atacand, Lexxel and Plendil and its Crohn's disease treatment Entocort, as well as some other products still in development, according to Merck.

Whitehouse Station, N.J.-based Merck said it expects to receive those funds — which represent the net present value for Merck's share...
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