KENILWORTH, N.J. (AP) - Drugmaker Merck is buying Afferent Pharmaceuticals, a privately held biotechnology company developing a chronic cough medication.
Merck & Co., based in Kenilworth, New Jersey, says it's agreed to pay $500 million up front for Afferent, and up to $750 million more if the company meets goals for approval and eventual sales of medicines in development.
Merck to buy biotech drug developer Afferent Pharmaceuticals
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