Better known as MSD outside the United States and Canada, the American laboratory Merck announced on Sunday the acquisition for 10.8 billion dollars (9.6 billion Swiss francs) of the biotechnology company Californian Prometheus Biosciences.
The two companies “have entered into a definitive agreement under which Merck, through a subsidiary, has agreed to acquire Prometheus for $200 per share in cash for an aggregate net worth of approximately $10.8 billion. “Says Merck in a press release.
The Prometheus share price ended at 114.01 dollars (102 francs) on Friday at the close of the New York Stock Exchange.
Prosperous long-term diversification
Prometheus is notably in the process of developing a treatment against autoimmune diseases, such as Crohn’s disease, PRA023.
“The agreement with Prometheus will accelerate our growing presence in the field of immunology, where there remain significant unmet patient needs. This transaction adds diversity to our overall portfolio,” Merck CEO Robert Davis said in the statement.
Merck expects this transaction “to drive (its) growth over the next decade,” he said.
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The laboratory’s financial results had been better than expected in the fourth quarter of 2022 thanks in particular to solid sales of its anti-cancer drugs, and despite a decline in its anti-Covid treatment molnupiravir. From September to December, Merck had generated a turnover of 13.8 billion dollars (12.35 billion francs), up 2% over one year.
