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Under the terms of the merger agreement, Merck will acquire 100 percent of the equity of GlycoFi, which will become a wholly-owned subsidiary of Merck & Co, Inc. The all-cash transaction is valued at approximately $400 million and is expected to close in the second quarter of 2006, subject to customary closing conditions and clearance under the Hart-Scott-Rodino Anti-Trust Improvements Act.

Under the terms of the acquisition agreement, Merck will acquire 100 percent of the equity of Abmaxis for $80 million in cash, making Abmaxis a wholly-owned subsidiary of Merck & Co., Inc. The agreement is expected to close in the second quarter of 2006.