Merck Set to Purchase Prometheus Biosciences
The $10.8 billion deal positions Merck to acquire promising immune-disorder therapies.
Merck & Co. has agreed to acquire Prometheus Biosciences Inc. for $10.8 billion, aiming to enter the lucrative immune-disease treatment market. The acquisition, set to close in the third quarter of 2023, will see Merck purchase Prometheus at $200 per share, representing a 75% premium on its closing price of $114.01.
Although Prometheus currently has no approved products, its lead pipeline drug is under development for immune diseases such as ulcerative colitis and Crohn's disease. The acquisition will provide Merck with access to a genetic data database to aid in future drug development and help expand its immunology business.
Reference: Merck to Acquire Prometheus Biosciences. April 16, 2023 / Wall Street Journal
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