Sector News

Merck & Co rumoured to be in talks to buy Cubist

December 8, 2014
Life sciences
Merck & Co is rumoured to be in talks to acquire Cubist Pharmaceuticals with a price of $7-$8 billion being mentioned for the antibiotics specialist.
 
Reports of a deal surfaced in the New York Times, prompting a 26% leap in after-hours trading for Cubist stock to $93.50. The companies are not commenting on the rumours but the newspaper cited unnamed sources as saying Merck could pay $100 a share, valuing Cubist at about $7.5 billion; a deal could be announced as early as this week, the NYT claims.
 
Cubist posted revenues of $864.8 million in the first nine months of 2014, most of which came from the antibacterial Cubicin (daptomycin). In June, the US Food and Drug Administration approved Cubist’s Sivextro (tedizolid) for serious skin infections.
 
A tie-up with Cubist, which is regularly mentioned as a takeover target, would make sense for Merck which recently saw its antibiotic relebactam fast-tracked by the FDA.
 
By Kevin Grogan
 
Source: Pharma Times

comments closed

Related News

April 26, 2024

Former Bristol Myers CEO tapped as Novartis’ next board chair

Life sciences

Giovanni Caforio, the former CEO of Bristol Myers Squibb, is set to become the next board chairman of Novartis, which on Tuesday proposed the pharmaceutical industry veteran as its pick to replace Joerg Reinhardt in the role next year. Reinhardt has served as Novartis’ chair since 2013 and plans to retire when his 12-year term ends in 2025.

April 26, 2024

GE HealthCare launches voice-activated, AI-powered ultrasound machines for women’s health

Life sciences

GE HealthCare has raised the curtain on two ultrasound systems equipped with artificial intelligence programs designed to assist in diagnosing conditions in women’s health, including obstetric exams. The Voluson Signature 20 and 18 imaging systems include AI tools capable of automatically identifying and annotating measurements of fetal anatomy.

April 26, 2024

Scientists reveal new method that could reduce waste from drug manufacturing

Life sciences

Scientists from the University of Edinburgh’s School of Chemistry have revealed a new sustainable method of manufacturing complex molecules that could reduce waste produced during drug production. The method published in Nature Chemistry could help to prevent severe side effects caused by drugs that can exist as enantiomers.

How can we help you?

We're easy to reach