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

Related News

May 1, 2021

AbbVie remains one of the best buys in its sector

Life sciences

AbbVie will be among the stocks closing out a busy earnings week. Earnings season tends to draw a lot of interest from investors, but it’s not always the best indicator of a stock’s overall trajectory.

May 1, 2021

Pfizer buys infectious disease biotech Amplyx

Life sciences

Pfizer has bought privately held Amplyx Pharmaceuticals for an undisclosed sum, gaining experimental antifungal and antiviral treatments as the world’s attention turns more toward infectious diseases.

May 1, 2021

Medtronic taps virtual reality ‘flight simulators’ for brain surgery, built from 3D patient scans

Life sciences

Surgical Theater’s technology builds 3D models of an individual patient’s anatomy from CT and MRI scans to offer surgeons an immersive, 360-degree fly-through view.

Send this to a friend