Updated: Merck buys Prometheus for $10.8B, bringing precision cancer chops to a potential IBD blockbuster
Merck will buy Prometheus Biosciences for $10.8 billion, fueling a red-hot M&A market as the oncology powerhouse looks to bring its precision cancer playbook to immunology.
The buyout, announced Sunday, is the latest move by Merck to diversify its pipeline beyond oncology, which is driven by its blockbuster immunotherapy Keytruda that brought in $20.9 billion in sales last year but is slated to lose patent protection in 2028. Prometheus brings Merck PRA023, an experimental inflammatory bowel disease drug that Merck leaders expect will play a key role in its future beyond Keytruda.
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