Merck acquires Prometheus Biosciences for $11B.

Merck & Co will acquire Prometheus Biosciences for $10.8 billion, gaining access to an experimental treatment for ulcerative colitis and Crohn's disease and expanding its presence in immunology. The acquisition will allow Merck to move into immunology in a strong way and will provide sustainable growth well into the 2030s. The deal is expected to close in Q3 2022, and revenue from the acquisition could start to roll in around the time Keytruda patents could potentially expire. Merck CEO Robert Davis said the company would continue to be opportunistic on acquisitions, but is agnostic about size.