logo
  Join        Login             Stock Quote

Merck And BGI Initiate “Substantive” Relationship

 September 16, 2010 10:11 AM
 


Merck (NYSE: MRK) has signed a letter of intent with BGI (formerly the Beijing Genomics Institute) that will "initiate and develop a working relationship," according to the press release. However, citing anonymous sources, Bio-IT World says this innocuous wording greatly understates the depth of the collaboration, which it calls "substantive, wide-ranging and long-term."

Bio-IT World says the agreement is "the most significant partnership announced so far between China's BGI and a major pharmaceutical company." It notes that BGI is working diligently to attract customers to its new next-generation sequencing (NGS) facility in Hong Kong and its bioinformatics center in Shenzhen. The magazine says BGI offers "unparalleled" services.

Merck and BGI said they will use the "massive output of genomic information" to explore areas of mutual interest in healthcare research and discovery. They intend to collaborate on biomarker discovery, target validation and drug development, and they will formulate specific projects.

As part of the agreement, the two companies will establish offices near the other to facilitate their research.

BGI is in discussions with several other big pharma companies, according to Alex Wong, chief of BGI's Hong Kong operation.

Bio-IT World will publish an article later this month on BGI Hong Kong, and that is, presumably, the basis for their inside sources in the company.

Disclosure: none.

iOnTheMarket Premium
Advertisement

Advertisement


Comments Closed


rss feed

Latest Stories

article imageMBIA Inc. (MBI) : BTI's $12 a Tough Task

MBIA Inc. (NYSE:MBI) is doing well on a day stocks are struggling The guarantee insurance company is the read on...

article imageUrban Outfitters, Inc. (URBN) Q2 Earnings Preview: A Snug Fit

Urban Outfitters, Inc. (NASDAQ:URBN) will hold a webcast to discuss its second quarter of fiscal-year 2015 read on...

article imageEstee Lauder Companies Inc. (EL) Q4 Earnings Preview: Options Player Betting On EL’s EPS Looking Pretty

Estee Lauder Companies Inc. (NYSE:EL) will release fiscal 2014 fourth quarter and full year financial read on...

article imageHerbalife Ltd. (HLF): 3 Reasons To Pay Attention to Recent Insider Buying

Well, well, well… it looks as if boardroom buyers viewed the recent selloff as an opportunity to buy. read on...

Advertisement
Popular Articles

Advertisement
Daily Sector Scan
Partner Center



Fundamental data is provided by Zacks Investment Research, and Commentary, news and Press Releases provided by YellowBrix and Quotemedia.
All information provided "as is" for informational purposes only, not intended for trading purposes or advice. iStockAnalyst.com is not an investment adviser and does not provide, endorse or review any information or data contained herein.
The blog articles are opinions by respective blogger. By using this site you are agreeing to terms and conditions posted on respective bloggers' website.
The postings/comments on the site may or may not be from reliable sources. Neither iStockAnalyst nor any of its independent providers is liable for any informational errors, incompleteness, or delays, or for any actions taken in reliance on information contained herein. You are solely responsible for the investment decisions made by you and the consequences resulting therefrom. By accessing the iStockAnalyst.com site, you agree not to redistribute the information found therein.
The sector scan is based on 15-30 minutes delayed data. The Pattern scan is based on EOD data.