On Wednesday, Shares of Merck & Co., Inc. (NYSE:MRK), lost -1.44% to $51.93.
Merck & Co., known as MSD outside the United States and Canada, and Samsung Bioepis Co., Ltd. declared the approval of BRENZYS (etanercept), a biosimilar of the immunology medicine Enbrel, by the Ministry of Food and Drug Safety (MFDS) in Korea. BRENZYS is indicated for the treatment of rheumatoid arthritis, psoriatic arthritis, axial spondyloarthritis (non-radiographic axial spondyloarthritis and ankylosing spondylitis) and psoriasis in adult patients (age 18 years and older).
The approval of BRENZYS in Korea represents the first product approval under Merck’s partnership with Samsung Bioepis, which is designed to offer high-quality biosimilar alternatives to existing biologic medicines to assist address patient and healthcare system needs worldwide. Merck plans to launch BRENZYS in South Korea by the end of this year or early next year.
“We are very excited to receive this first regulatory approval of a biosimilar product resulting from our late-stage development pipeline,” said Christopher Hansung Ko, CEO of Samsung Bioepis. “The approval of BRENZYS in Korea is especially gratifying, and underscores our commitment to advancing healthcare through innovation and groundbreaking technology. We look forward to building on this progress in our partnership with Merck.”
Merck & Co., Inc. provides health care solutions worldwide. The company offer therapeutic and preventive agents to treat cardiovascular, type 2 diabetes, asthma, nasal allergy symptoms, allergic rhinitis, chronic hepatitis C virus, HIV-1 infection, fungal infections, intra-abdominal infections, hypertension, arthritis and pain, inflammatory, osteoporosis, male pattern hair loss, and fertility diseases.
Finally, Southern Co (NYSE:SO), ended its last trade with -0.52% loss, and closed at $42.48.
Southern Company partner Southern Power, declared a contract to acquire the company’s second wind project – the 151-megawatt (MW) Grant Wind facility in Oklahoma – from Apex Clean Energy. The acquisition is predictable to close in March 2016 upon successful completion of project construction.
“Southern Company is committed to the full portfolio and this project is an important step in further expanding our fuel mix,” said Southern Company Chairman, President, and CEO Thomas A. Fanning. “Our second wind project and one of Southern Power’s more than 20 renewable projects across America, the Grant Wind facility is a smart investment that expands our company’s presence in a region with exceptional wind resources.”
In March, Southern Power declared a contract to acquire its first wind project – the 299-MW Kay Wind facility in Oklahoma, also from Apex Clean Energy –, which is predictable to close in the fourth quarter of 2015.
The Southern Company, together with its auxiliaries, operates as a public electric utility company. It is involved in the generation, transmission, and distribution of electricity through coal, nuclear, oil and gas, and hydro resources in the states of Alabama, Georgia, Florida, and Mississippi.
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