Merck, Sanofi set to acquire smaller, cancer-focused drugmakers

Both Merck and Sanofi said Dec. 9 they plan to acquire smaller drugmakers for more than $2 billion each, according to STAT

Merck will buy ArQule — which develops pills designed to treat multiple types of cancer — for $2.7 billion, a 107 percent premium above the stock's closing price Dec. 6. 

Sanofi will buy Synthorx — which develops treatments for cancer and autoimmune diseases — for $2.5 billion, a 172 percent premium above the stock's closing price Dec. 6. 

The acquisitions follow a trend of large drugmakers buying smaller companies developing cancer treatments. In the last year, Pfizer has purchased Array Biopharma — which developed skin cancer treatments as well as other experimental cancer drugs — for $11.4 billion, and Eli Lilly has bought Loxo Oncology — which specialized in cancer treatments — for $8 billion. 

Read the full article here

More articles on pharmacy:
UnitedHealth to acquire struggling specialty pharmacy
Pharmaceutical layoffs up nearly 6% from last year
Larger chunk of hospital drug spending going toward cancer treatments, study finds

Copyright © 2024 Becker's Healthcare. All Rights Reserved. Privacy Policy. Cookie Policy. Linking and Reprinting Policy.

 

Featured Whitepapers

Featured Webinars