Cardiome Pharma Corp. and Merck & Co. will work together to develop a drug candidate to treat atrial fibrillation, the companies said Thursday, announcing a deal in which Merck could pay Cardiome more than $600 million.

Fred Hassan’s six-year reign as chairman and chief executive officer of Schering-Plough Corp. is hitting an explosive climax with a $41.1 billion merger deal with pharma giant Merck & Co.

Otsuka Pharmaceutical Co. said Monday that it has extended its contract with U.S. drugmaker Bristol-Myers Squibb Co. for the aripiprazole anti-psychotic and will receive a lump-sum payment of 400 million dollars.

The pharma industry’s love for mergers and acquisitions is not something new. Companies have in the past taken this route to grow. But while the M&A frenzy had almost always been restricted to the US and Europe, what’s notable now is that India too is getting its share of the action.