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MarketBeat
MarketBeat
Business
Jeffrey Neal Johnson

Merck Writes a $9.2 Billion Check for a Flu Drug That Could Change Everything

Merck Cidara Cidara Therapeutics MarketBeat

In one of the most decisive strategic moves in the biotech sector this year, pharmaceutical titan Merck & Co. (NYSE: MRK) has committed a formidable $9.2 billion in cash to acquire Cidara Therapeutics (NASDAQ: CDTX).

The announcement immediately sent Cidara’s stock price rocketing over 100%, a clear victory for its investors. 

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