Bid fever over US drugs giant Pfizer appears to have calmed with the news it is to collaborate with Germany’s Merck in a major deal to develop an immunotherapy drug.
Merck will share its rights on the cancer treatment in return for an immediate 680-million-euro cash payment, and a success-linked bonus of up to 1.6 billion euros.
This means Pfizer is less likely to revive its controversial takeover bid for Britain’s AstraZeneca, which has a rival treatment under development.
Pfizer will also be less reliant on Astra’s products.
Get a different perspective
Every story can be told in many ways: see the perspectives from Euronews journalists in our other language teams.