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MediChem Shareholders Give Green Light to DeCode Merger

Mar 14, 2002

NEW YORK, March 14 - MediChem Life Sciences shareholders on Thursday approved the company's merger with DeCode Genetics. The merger, originally expected to close next quarter, is now expected to be finalized tomorrow.

 

DeCode announced its plans to acquire MediChem in January in a stock-swap deal valued at roughly $84 million. The Icelandic population genomics firm hopes to bolster its chemistry and structural proteomics technology through the deal, speeding its progress toward in-house drug discovery and development.

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