Corporate News     23-Dec-11
Orchid's drug discovery research initiative with Merck advances anti-infective program meets preclinical milestone
Orchid Chemicals & Pharmaceuticals has successfully completed a milestone in its anti-infective research collaboration with a subsidiary of Merck & co., Inc (Merck is known as MSD outside the United States and Canada). Consequent to recent progress, Orchid has received the initial US$ 1.5 million milestone payment from Merck.

Under the terms of the agreement, Orchid is eligible to receive payments totaling more than US$ 100 million associated with the achievement of various research and development milestones involving multiple candidates. Orchid is also eligible to receive significant royalties on worldwide net sales of any products commercialized under the agreement.

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