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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
Transforming Cancer Care: Data, AI, and Patient-Centered Care
July 20th 2023Join us as Mohit Manrao, SVP and head of US oncology at AstraZeneca, shares his patient-centered approach to transforming cancer care, bridging the gap between innovative science and tangible patient outcomes across all populations on a global scale.
