Codexis, Merck Extend Supply Pact For Enzyme Used To Manufacture Sitagliptin

Codexis Inc CDXS has amended and extended its agreement with Merck & Co Inc MRK to license and supply a proprietary enzyme used to manufacture sitagliptin.
Sitagliptin is an active pharmaceutical ingredient (API) in Merck's two anti-diabetic medications, Januvia and Janumet.
Codexis and Merck leveraged Codexis' CodeEvolver enzyme engineering platform technology to design an enzyme to serve as a biocatalyst in the sitagliptin manufacturing process.
In 2012 Codexis and Merck entered into a supply agreement for the enzyme and in 2015 signed a multi-year extension, which was to expire in February 2022.
The subsequent extension and amendment are for the license and supply of the proprietary enzyme through December 31, 2026.
The extension can be renewed for an additional five years.
Price Action: CDXS stock closed at $27.07 on Thursday, while MRK stock is up 0.56% at $74.23 during the premarket session on the last check Friday.