CNNMoney.com
Companies Economy International Corrections Pre-market Trading After-hours Trading Winners/Losers/Actives Bonds Currencies Commodities World Markets Money Magazine Real Estate Taxes Jobs Ask the Expert Money 101 Autos Mutual Funds The Help Desk Loan Center Best Places to Live Ask the Expert Ultimate Guide to Retirement Retirement Calculators Rules of Retirement Best Funds Best Places to Retire Fortune Brainstorm Tech Apple 2.0 Blog Big Tech Blog Sectors and Stocks Tech Talk Resource Guide Small Business Makeovers Questions & Answers Small Business Video 100 Best Places to Launch FSB 100 Fortune Small Business Fortune 500 Brainstorm Tech Investing Management C-Suite Rankings Main Create Portfolio Edit Portfolio Create Alerts Edit Alerts

Merck in cancer drug deal with Ariad

Ariad stock rises; pharmaceutical companies look to co-develop a treatment for soft tissue cancer.

By Aaron Smith, CNNMoney.com staff writer
July 12 2007: 9:58 AM EDT

NEW YORK (CNNMoney.com) -- Pharmaceutical giant Merck signed a deal with drugmaker Ariad to co-develop the smaller company's experimental cancer drug.

ImClone falls on failed Erbitux study

Ariad Pharmaceuticals' (up $0.06 to $6.11, Charts) stock initially jumped 4 percent before losing momentum to show more than 2-percent gain after the companies announced the $1 billion-plus deal Thursday. Merck & Co.'s (up $0.36 to $49.26, Charts, Fortune 500) stock edged up slightly.

Merck agreed to give Ariad an up-front payment of $75 million, plus milestone payments that could exceed $1 billion, to co-develop a potential cancer drug called AP23573. The companies are expected to begin late-stage testing this quarter for the drug as a treatment in cancer of soft tissues like muscle, tendons, fat and blood vessels. Top of page

In France, delicate questions over Gardasil
Sponsors
© 2009 Cable News Network. A Time Warner Company. All Rights Reserved. Terms under which this service is provided to you. Privacy Policy. Advertising Practices.
Live Quotes automatically refresh, but individual equities are delayed 15 minutes for Nasdaq, and 20 minutes for other exchanges. Market indexes are shown in real time, except for the DJIA, which is delayed by two minutes. All times are ET.
* : Time reflects local markets trading time. † - Intraday data delayed 15 minutes for Nasdaq, and 20 minutes for other exchanges. Disclaimer
Copyright © 2009 BigCharts.com Inc. All rights reserved. Please see our Terms of Use.
MarketWatch, the MarketWatch logo, and BigCharts are registered trademarks of MarketWatch, Inc.
Intraday data provided by Interactive Data Real-Time Services and subject to the Terms of Use.
Intraday data is at least 20-minutes delayed. All times are ET.
Historical, current end-of-day data, and splits data provided by Interactive Data Pricing and Reference Data.
Fundamental data provided by Morningstar, Inc..
SEC Filings data provided by Edgar Online Inc..
Earnings data provided by FactSet CallStreet, LLC.
Home | Contact Us | Advertise with Us | Corrections | Career Opportunities | Site Map
RSS | Email Delivery | Portfolio | Podcasts | Mobile | Widgets | User Preferences | Special Sections
| Magazine Customer Service | Download Fortune Lists | Reprints | Conferences | Business Leader Council