Merck & Co. Inc. (MRK) Financial News - Novartis has no need to buy Intercell-source
Merck & Co. Inc. (MRK)
Novartis has no need to buy Intercell-source
Keywords: Ben HirschlerQuote: The rationale for the strategic partnership with Intercell was to gain access to innovation in vaccines, and that has not changed," Andrin Oswald, head of Novartis' Vaccines and Diagnostics unit, said. Last month, Intercell's partner Merck & Co (MRK.N) decided to discontinue a major trial of a vaccine designed to protect against serious hospital infections, adding to worries about Intercell's pipeline's prospects. [ID:nLDE757026] The group's stock has lost over 74 percent of its value so far this year as various disappointments have weighed on its volatile shares. Intercell has a free float of nearly 82 percent and is worth around $206 million. Lingelbach has said he still sees further growth of Intercell's only marketed product, Ixiaro, a vaccine for Japanese encephalitis, which is a mosquito-borne virus that causes inflammation of the brain. Intercell is hoping for 60 to 70 percent sales growth this year for the vaccine, though the product's prospects took a knock earlier this year when Intercell had to recall batches in Europe due to a possible loss of potency. Intercell distributes the vaccine with Novartis. [ID:nLDE74Q0GR](Editing by Ben Hirschler) ...
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