Shots:

• Merck acquires Peloton- in all-stock transaction for $2.2B. Peloton to receive $1.05B cash as upfront & ~$1.15B as regulatory & commercial milestones for few candidates. The acquisition is expected to be close in Q3’19
• The focus of the acquisition is to fortify Merck’s oncology portfolio with the addition of Peloton’s late-stage renal cell carcinoma candidate- PT2977
• Peloton’s PT2977 is an oral HIF-2α inhibitor- currently being evaluated in multiple studies as a monothx. or in combination with cabozantinib for multiple indications

Ref: Merck | Image: Merck