Merck (MRK) and Pfizer (PFE) enter into a 60/40 worldwide agreement to jointly develop and...

|About: Merck & Co Inc. (MRK)|By:, SA News Editor

Merck (MRK) and Pfizer (PFE) enter into a 60/40 worldwide agreement to jointly develop and commercialize PFE's type 2 diabetes treatment ertugliflozin which should enter Phase III trials later this year. As part of the deal, PFE received $60M upfront and may receive additional payments in the future. (PR)