Merck to buy Prometheus Biosciences for about $11 billion
Economy And Jobs,Pharmaceuticals,Big Pharma,Banking And Finance,Acquisitions
From the Center
AllSides Media Bias Rating: Center
Merck & Co (MRK.N) has agreed to acquire Prometheus Biosciences Inc (RXDX.O) for about $10.8 billion to bolster the company's presence in immunology, the companies said on Sunday.
The joint statement said that Merck, through one of its subsidiaries, will pay $200 per share for the biotechnology company that specializes in products for treatment of immunological diseases. That represents a 75% premium to the $114.01 closing price for Prometheus shares on Friday.
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