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Merck will acquire Cidara Therapeutics in a nearly $9.2 billion deal, the companies said on Friday, gaining access to an experimental drug for flu prevention.

Merck is looking to diversify its revenue beyond Keytruda as its patents for the blockbuster drug begin to expire later this decade.

The drugmaker will pay $221.50 per share in cash for Cidara, a premium of 108.9% from its last closing price. Shares of Cidara, which has a market capitalization of $3.3 billion, doubled in value to $216.05 in premarket trading.

Merck, through a subsidiary, will acquire all of Cidara's outstanding shares. The transaction has an equity value of $6.96 billion, according to a Reuters calculation.

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