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Big pharma Merck agreed to buy antibiotic specialist Cubist Pharmaceuticals Monday in a deal valued at $9.5 billion, boosting its fight against drug-resistant “superbugs.” Cubist soared 35% to 100.60, while Merck rose a fraction to 61.88. Merck (MRK) agreed to pay $102 a share cash for Cubist (CBST), worth $9.5 billion including $1.1 billion in assumed debt. Merck said the buyout should add more than $1 billion annually to its Scalper1 News
Scalper1 News