Orion and Merck Secure $1.63B Agreement

Rahway, NJ, July 1, 2024 (Business Wire) -- Merck (NYSE: MRK), known as MSD outside the U.S. and Canada, and Orion Corporation ("Orion") have agreed to convert their co-development and co-commercialization agreement for opevesostat (MK-5684/ODM-208) and other CYP11A1-targeting candidates into an exclusive global license for Merck. Under this agreement, Orion is eligible for up to $1.63 billion in milestone payments: $30 million for development, $625 million for regulatory, and $975 million for sales-based milestones. Orion will also receive tiered royalties ranging from low double-digits to low twenties on net sales of any licensed product.

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