The two companies “reached a definitive agreement under which Merck, through a subsidiary, has 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. release.
The pharmaceutical group then warned that the purchase would affect its quarterly and annual results.
Per share, the loss is 2.06 dollars, a better result than expected by analysts, who pointed to 2.18 dollars.
Prometheus develops a treatment against autoimmune diseases.
The billing of Merckmeanwhile, grew 3% to 15.030 million dollars in the quarter, above the market consensus.
Merck upgraded its guidance for the year to $58.6-59.6 billion in revenue, and net earnings of $2.95-3.05 per share, cut $4.02 by the biotech purchase.
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 Merck’s portfolio and will help fuel its “growth well into the next decade,” he added.
FOUNTAIN: With information from AFP
