Merck's $10.8B Prometheus buyout can proceed after antitrust review
The government’s waiting period for Merck’s $10.8 billion Prometheus Biosciences buyout expired on Monday, meaning the companies can proceed to close the deal, according to an SEC filing.
Prometheus announced the merger last month after fielding interest from several other pharma companies, including AbbVie and Bristol Myers Squibb, according to a Bloomberg report. It gives Merck PRA023, an experimental anti-TL1A antibody for inflammatory bowel disease that Merck expects will play a big role in its future beyond Keytruda’s patent cliff.
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