the american lab Merck announced on Sunday the purchase of California-based biotech company Prometheus Biosciences for nearly $11 billion.
The two companies “reached a definitive agreement under which Merck, through a subsidiary, agreed to acquire Prometheus for $200 per share in cash, for a net equity value of approximately $10.8 billion,” Merck said in a statement.
The share price of Prometheus it was at $114.01 at the close of the New York Stock Exchange on Friday.
In particular, Prometheus is developing a treatment for autoimmune diseases, including ulcerative colitis and Crohn’s disease, called PRA023.
“The agreement with Prometheus will accelerate our growing presence in the field of immunology, where there continue to be significant unmet needs for patients,” Merck Chairman and CEO Robert Davis was quoted as saying in the statement.
This transaction diversifies the portfolio of Merck and will help fuel its “growth well into the next decade,” he added.
The financial results of Merck They came in better than expected in the fourth quarter of 2022 thanks in part to strong sales of its cancer drugs and despite a decline in its Covid treatment molnupiravir.
From September to December, the company, known as MSD outside the United States and Canada, $13.8 billion, up 2% in a year.
kg
