Merck's $9.5bn Cubist buy overshadowed by court decision
This article was originally published in Scrip
Executive Summary
Merck & Co has agreed to acquire antibiotics specialist Cubist Pharmaceuticals in a cash deal worth about $9.5bn. Merck will pay $8.4bn in cash for Cubist's stock at $102 per share (a 35% premium to the company's average stock price over the previous five days), and the deal includes $1.1bn in net debt.
You may also be interested in...
Merck And The 'Strange Business' Of Antibiotics
Antibacterials have been part of Merck's mission for decades, despite the market challenges, and it's expecting two new approvals this year. Infectious disease VP Joan Butterton talks about tackling those challenges and incentives that may help the industry address antimicrobial resistance.
Finance Watch: Former GSK CEO Witty, R&D Head Slaoui Join VC Firms
Medicxi's new $300m venture fund will benefit from the expertise of former GSK R&D leader Moncef Slaoui, while ex-CEO Witty will inform portfolio strategy at Hatteras. Also, Kaleido hires past Cubist CEO and brings VC funding to $65m, while Gilead sells $3bn in debt to fund Kite deal.
Scrip Asks…What Does 2022 Hold For Biopharma? Part 7: People And Planet
Addressing health care inequities, providing a nurturing environment for employees and learning from the pandemic were among the aims expressed by executives surveyed by Scrip.