Merck to buy Cidara Therapeutics in $9.2 billion deal
Merck & Co (NYSE: MRK) has struck a $9.2 billion deal to acquire biotechnology company Cidara Therapeutics (Nasdaq: CDTX) in a move that bolsters the US pharma giant’s respiratory portfolio and pipeline as it braces for the 2028 loss of patent exclusivity for its mega blockbuster cancer drug Keytruda (pembrolizumab).
Merck on Friday said it will pay $221.50 a share for Cidara, more than double Thursday's closing price of $105.99 for the San Diego company. Cidara shares more than doubled to $216.05 in pre-market trading today. The deal is slated to close in the first quarter of 2026.
Lead candidate
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