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Biotech / Medical : Alnylam Pharmaceuticals, Inc. (ALNY)
ALNY 434.07-4.8%Nov 3 9:30 AM EST
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To: LJM who wrote (89)7/6/2006 5:10:51 PM
From: DewDiligence_on_SI   of 166
 
>“…in light of advances in the treatment of age-related macular degeneration and the newly modified agreement, Alnylam and Merck will not jointly advance their July 2004 Ocular Disease alliance and all rights to ALN-VEG01 will be retained by Alnylam.”<

Translation: MRK concluded that ALN-VEG01 has no realistic hope of competing with Lucentis. To save face, ALNY is “re-acquiring” the rights rather than simply killing the program.
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