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

February 21, 2021

Sanofi invests in health tech firm Novadiscovery, boosting trial simulation platform and COVID-19 work

Life sciences

Novadiscovery uses its so-called JINKO platform that runs disease models on virtual patients to support decision-making and de-risk clinical development.

February 21, 2021

Gilead lets local HIV community groups take the lead with $3M grant

Life sciences

The pharma is pledging $3.2 million over two years to the Human Rights Campaign, the largest lesbian, gay, bisexual, transgender and queer (LGBTQ+) civil rights organization in the U.S.

February 21, 2021

Biotech company funds research project on diversity

Life sciences

In collaboration with Genmab, a new anthropological postdoc project at the Department of Anthropology will now explore and help develop the company’s efforts to ensure a diverse and inclusive workplace.

Send this to a friend