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Pfizer pays top dollar to buy into Merck's anti-cancer research


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Pfizer pays top dollar to buy into Merck's anti-cancer research

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.

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