Tag Archives: cbst

Merck-Cubist Deal Going Ahead Despite Patent Setback

Big pharma Merck affirmed Tuesday that it’s going ahead with its $9.5 billion acquisition of biotech Cubist Pharmaceuticals even though Cubist’s lead drug looks to face generic competition sooner than expected. Merck (MRK) stock was down 4.5% in morning trading on the stock market today, while Cubist Pharmaceuticals (CBST) stock was off more than 3.5%. Merck announced the Cubist acquisition Monday morning, hours before a federal judge in Delaware

Merck-Cubist Deal Is On Despite Patent Setback

Big pharma Merck affirmed Tuesday that it’s going ahead with its $9.5 billion acquisition of biotech Cubist Pharmaceuticals even though Cubist’s lead drug looks to face generic competition sooner than expected. Merck (MRK) stock was down 4.5% in morning trading on the stock market today, while Cubist Pharmaceuticals (CBST) stock was off more than 3.5%. Merck announced the Cubist acquisition Monday morning, hours before a federal judge in Delaware

Merck Bets $9.5 Billion On Cubist’s War On Superbugs

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