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Benzinga

Business

Vandana Singh

Merck Makes Big Bet On Flu Protection With Cidara Buyout

Merck Cidara MRK Influenza CDTX Cidara Therapeutics FDA

South,San,Francisco,,Ca,,Usa,-,May,1,,2022:,Merck

Merck & Co. Inc. (NYSE:MRK) on Friday agreed to acquire Cidara Therapeutics, Inc. (NASDAQ:CDTX) for $221.50 per share in cash, for a total transaction value of approximately $9.2 billion.

“We continue to execute our science-led business development strategy, augmenting our pipeline with CD388, a potentially first-in-class, long-acting antiviral designed to prevent influenza in individuals at higher risk of complications,” said Robert M. Davis, chairman and chief executive officer, Merck.

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