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Prometheus Biosciences

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Merck acquires Prometheus Biosciences for $10.8B
business3 years ago

Merck acquires Prometheus Biosciences for $10.8B

Merck & Co. has announced that it will acquire immune disease treatment developer Prometheus Biosciences in a $10.8 billion deal. The acquisition will add diversity to Merck's overall portfolio and strengthen its sustainable innovation engine. The deal is subject to approval by Prometheus Biosciences shareholders. Merck is looking to add new products to its pipeline as its top-selling drug cancer therapy, Keytruda, is expected to lose patent protection this decade.

via Fox Business|
#acquisition#business#immunology
Merck to Acquire Prometheus Biosciences for $11 Billion
business3 years ago

Merck to Acquire Prometheus Biosciences for $11 Billion

Merck, a drug giant with plants in the Triangle and Wilson, is set to acquire San Diego-based Prometheus Biosciences for $11 billion. The acquisition will allow Merck to expand its reach into immunology and strengthen its sustainable innovation engine. Prometheus is a clinical-stage biotechnology company that develops therapeutic and companion diagnostic products for the treatment of immune-mediated diseases using a precision medicine approach. The acquisition is expected to close in Q3 2023, subject to shareholder approval and other customary conditions.

via WRAL TechWire|
#acquisition#business#immunology
Merck acquires Prometheus Biosciences for $11 billion to expand immunology presence.
business3 years ago

Merck acquires Prometheus Biosciences for $11 billion to expand immunology presence.

Merck & Co. is set to acquire clinical-stage biotechnology company, Prometheus Biosciences, for $10.8 billion. The acquisition will help Merck expand its presence in immunology and add diversity to its overall portfolio. Prometheus Biosciences focuses on autoimmune treatments, including PRA023, a treatment for ulcerative colitis and Crohn’s disease. The deal is expected to close in Q3 2023.

via MarketWatch|
#acquisition#autoimmune-treatments#business
Merck acquires Prometheus Biosciences for $11B.
business3 years ago

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.

via Reuters|
#business#crohns-disease#immunology
Merck to Acquire Prometheus Biosciences for $11 Billion
business3 years ago

Merck to Acquire Prometheus Biosciences for $11 Billion

Merck & Co. is reportedly in late-stage talks to acquire Prometheus Biosciences Inc., a San Diego-based company that develops immune treatments for diseases including ulcerative colitis and Crohn’s disease. The deal could give Merck promising immune disease treatments as it looks to add new products to its pipeline. However, a deal is not certain and could still fall apart.

via Fox Business|
#acquisition#business#drug-development