Merck set to buy biotech firm SmartCells – WSJ

Dec 2 (BestGrowthStock) – U.S. pharmaceutical company Merck (MRK.N: )
is set to buy SmartCells Inc, a privately held biotechnology
firm in the early stages of developing a new diabetes drug, the
Wall Street Journal reported.

The deal for SmartCells would exceed $500 million if various
milestones for development, regulatory approval and sales were
met and could be announced as early as Thursday, a person
familiar with the matter told the Journal.

A SmartCells deal would expand Merck’s treatment offerings
for diabetes. It already has two top-selling drugs for Type 2
diabetics in its portfolio.

Merck could not be reached for comment.
(Reporting by Sakthi Prasad in Bangalore; Editing by Dan Lalor)

Merck set to buy biotech firm SmartCells – WSJ