By Dominic Maher, 17 June 1999 00:08
NEWS Celltech and Chiroscience have agreed a £700m merger deal that will see the two pharmaceutical companies join forces to push the anaesthetic Chirocaine to Europe. The new company will use the 400 plus research and development staff to bring more drugs to the market and will be given an annual R&D budget of £51m. The move is being seen as a lifesaver for the consolidation of the UK'S troubled biotech sector.
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