Drugmaker Merck acquires Prometheus for nearly US$11 billion

PHARMACEUTICAL giant Merck announced yesterday the purchase of California-based biotech company Prometheus Biosciences for nearly US$11 billion (RM48.4 billion).

The two companies “have entered into a definitive agreement under which Merck, through a subsidiary, has agreed to acquire Prometheus for US$200.00 per share in cash for a total equity value of approximately US$10.8 billion,” Merck said in a statement.