Monday, August 31, 2015

Merck to buy Idenix for $3.85 billion

Drugmaker Merck & Co., said Monday that it will buy Idenix Pharmaceuticals, Inc. for about $3.85 billion.

Merck to buy Idenix for $3.85 billion

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Drugmaker Merck & Co., said Monday morning that it will buy Idenix Pharmaceuticals, Inc. for about $3.85 billion.

The deal values Idenix at $24.50 per share.

Merck is based in Whitehouse Station, N.J., and has facilities in the Philadelphia region.

Idenix, which is headquartered in Cambridge, Mass., focuses on making drugs to treat hepatitis C.

“Idenix has established a promising portfolio of hepatitis C candidates based on its expertise in nucleoside/nucleotide chemistry and prodrug technologies,” Dr. Roger Perlmutter, president of Merck Research Laboratories, said in a statement. “ Idenix’s investigational hepatitis C candidates complement our promising therapies in development and will help advance our work to develop a highly effective, once-daily, all oral, ribavirin-free, pan-genotypic regimen that has a duration of treatment as short as possible for millions of patients in need around the world.”

 

 

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About this blog
David Sell blogs about the region's pharmaceutical industry. Follow him on Facebook.

Portions of this blog may also be found in the Inquirer's Sunday Health Section.

Reach David at dsell@phillynews.com or 215-854-4506.

David Sell
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