Merck KGaA announced plans today keeping the group on track for its “Fit for 2018” plan for growth and transformation. Part of those plans include an additional $165 - $190 million investment in biosimilars for 2015. Ultimately, that exact number is dependent on the outcome of certain Phase I trials that are currently ongoing. That, of course, is in addition the $128 million the German company has set aside for biosimilars this year.
In addition, the company plans to expand on existing partnerships with India’s Dr. Reddy’s and Brazil’s Bionovis with an in-licensing agreement for a late-stage biosimilar. Initially, the drug will be intended for smaller, emerging markets. Between 2015 and 2016, Merck plans to initiate anywhere from two to five Phase III clinical trials.
The release also noted some internal shuffle within Merck. Stefan Oschmann has been promoted to deputy CEO and Vice Chairman of the executive board while Belén Garijo will move up to the executive board and head the pharma business.
The full press release can be found here.
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