Merck snaps up agbiotech firm

Nitragin Holding, a Canadian affiliate of Germany's Merck, has acquired the crop bioscience company Agribiotics for about $24 million. Agribiotics develops legume inoculants, which are soil bacteria that enhance legume crop vigor and yield by facilitating nitrogen absorption through the plant's root system. Agribiotics recently expanded its portfolio to include enhancement technologies for use with legumes as well as nonlegume crops. Walter Galinat, head of Merck's performance and life sciences chemicals division, says the purchase "provides our agricultural customers with a natural alternative to the traditionally used chemicals."