Orchid invests in Diakron Pharma

Subscribe to Oneindia News

New Delhi, Aug 13 (UNI) Orchid Chemicals and Pharmaceuticals today said it has invested in US-based Diakron Pharmaceuticals Inc, a drug discovery and development firm, through a combination of services and cash.

The investment, which would give Orchid majority control of Diakron, will enable the company to undertake development and manufacture of an anti-coagulant drug candidate initially discovered and developed by Merck and Co Inc, a company statement said.

No financial details were, however, available.

Diakron has an exclusive license agreement with Merck for the compound, it added.

UNI SR SBA GC2135

Please Wait while comments are loading...