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 imageThe Sixty Percent Alibaba Play No One Is Talking About

It's official: Chinese e-commerce juggernaut Alibaba (NYSE: BABA) goes down as the biggest U.S. IPO in read on...

article imageThe Finer Points Of Hedging… Or Not

Barry Ritholtz asks the right question—Why hedge?–in the wake of last week’s announcement that California read on...

article imageBulls Leverage Hopeful News to Launch a Tepid Breakout Attempt

Stocks were able to leverage some optimistic news and dovish words from the Fed to take another stab at an read on...

article imageG-20 Minus One Country Plus 900 Bullet Points Equal 2 Percentage Points of Extra Growth?

For investors, the G-20’s super-secret plan to make the world grow faster is more a sideshow than a reason 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.