The US pharmaceutical group Merck & Co is buying the biotech company Prometheus Biosciences for almost eleven billion dollars to expand its drug portfolio. Merck will pay $200 per Prometheus share, both companies announced on Sunday. That’s a 75 percent premium to Friday’s Prometheus close. The market value of the company, which specializes in the treatment of immune diseases, was 5.42 billion dollars. Merck is working to expand its drug portfolio as its blockbuster cancer immunotherapy Keytruda is expected to lose key patents in 2028. “The agreement with Prometheus will accelerate our growing presence in the area of immunology, where there remains a high need,” said Merck CEO Robert Davis. The transaction is expected to close in the third quarter.
US pharmaceutical company – Merck strengthens immunology division – economy
