Merck AG initially bought US rights from Th
Merck KGaA finds value in Theratechnologies
Merck KGaA has come to the rescue of Theratechnologies, buying US rights to Tesamorelin, in phase III trials as a treatment for excess abdominal fat in HIV patients with lipodystrophy, in a deal worth up to $215m.
Phase III data on the product released so far has been disappointing, leading to predictions that the company would struggle to sign up a top tier pharmaceutical company; a prediction that appears to have come true (Tesamorelin data reduces options for Theratechnologies, June 23, 2008). Even so, the underwhelming response from investors was surprising, with the stock edging just 7% higher to C$2.35 in early trade.