Orchid invests in Diakron Pharma

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.

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