Roger Perlmutter, Merck's R & D Director, has discovered another biotech company to love. And he buys it, the excerpt from the queue of IPOs.

The pharmaceutical giant announced Tuesday morning that it was going to shell out $ 1.05 billion in cash for Peloton Therapeutics, adding an additional $ 1.15 billion to determine whether the biotechnology approach to Cancer is as promising as it looks in it.

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