Merck to Acquire Prometheus for ~$10.8B
Shots:
- Merck to acquire Prometheus for $200.00/share in cash for a total equity value of ~$10.8B representing a 75% premium to the $114.01 closing price for Prometheus shares. The transaction is expected to be closed in Q3’23
- The acquisition will allow Merck to move into immunology after promising experimental treatment for CD and UC. The transaction diversifies Merck's portfolio and will help drive its growth well into the next decade
- Prometheus’ PRA023, a humanized mAb directed to TNF-like ligand 1A is being developed to treat UC, CD, and other autoimmune conditions while target discovery and precision medicine in inflammation and immunology are made possible by Prometheus Biosciences' extensive data set
Ref: merck | Image: merck
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Neha is a Senior Editor at PharmaShots. She is passionate and very enthusiastic about recent updates and developments in the life sciences and pharma industry. She covers Biopharma, MedTech, and Digital health segments along with different reports at PharmaShots. She can be contacted at connect@pharmashots.com.
