According to the Honolulu Star Advertiser, Merck & co. has agreed to a deal to purchase a vaccine research branch of the small, bankrupt biotech firm, Hawaii Biotech. The sale of the unit, which develops treatments for the Dengue virus, is good news for the small biopharma company, which recently filed for chapter 11 bankruptcy, and is in need of cashflow to catalyze the rebuilding proccess. The sale involved an undisclosed amount of capital.
Merck stands to add to its impressive lineup of what spokesman Ian McConnell calls “vaccines that meet global unmet medical needs.” The pharma giant was down 0.11% this afternoon. Shares of MRK closed on a three-month high of $35.49 last week.
-Michael B. Sauter
