Cardiome (CRME) Announces That Collaboration and License Agreement with Merck & Co. (MRK)
Cardiome Pharma Corp. (NASDAQ: CRME) announced that the waiting period under the Hart-Scott-Rodino Act for the collaboration and license agreement with Merck & Co. (NYSE: MRK) and a Merck affiliate for development and commercialization of vernakalant, an investigational candidate for the treatment of atrial fibrillation, has expired, and the agreement is now effective.
Under terms of the agreement, effectiveness of the agreement triggers an initial payment of $60 million to Cardiome from Merck. Further terms of the agreement are outlined in our press release dated April 8, 2009.
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Cardiome Pharma Corp. is a product-focused drug development company dedicated to the advancement and commercialization of novel treatments for disorders of the heart and circulatory system.
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