Merck Acquires Cidara for $9.2B, Boosting Antiviral Portfolio

Mercks acquisition of Cidara Therapeutics for $9.2 billion marks a significant expansion in antiviral treatments, particularly targeting influenza. The deal, valued at $221.50 per share, is a 109% premium over Cidaras previous closing price. The key asset is CD388, a human antibody fragment designed to combat both influenza A and B, currently in Phase Three trials. Mercks CEO, Robert Davis, expressed confidence in CD388s potential as a growth driver. The acquisition, expected to close in Q1 2023, has sent Cidara shares soaring by 105% to a nine-year high.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.