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Merck will buy drugmaker Acceleron Pharma for around $ 11.5 billion, the companies said Thursday, as the U.S. pharmaceutical giant seeks to expand its portfolio of rare disease drugs.
Merck will pay $ 180 per Acceleron share in cash, which is about a 2.6% premium over the share’s closing price on Wednesday, according to data from Refinitiv.
The deal gives Merck, which makes the blockbuster cancer drug Keytruda, access to a potentially lucrative rare disease drug candidate, sotatercept.
Acceleron, based in Cambridge, Mass., Focuses on therapies that treat cardiovascular and other blood disorders. Its drug sotatercept, which is currently in an advanced study, aims to treat a rare cardiovascular disease called pulmonary arterial hypertension (PAH), a type of high blood pressure that affects the lungs.
The market for treatments targeting rare diseases has become lucrative, as drug makers typically charge higher prices for drugs intended for small patient populations.
An estimated 25 to 30 million Americans are living with a rare disease, according to the United States National Institute of Health, which has prompted a number of drug companies to take an interest in this slice of the market.
With sotatercept, Merck will have access to Reblozyl, which is approved for the treatment of two blood-related disorders, including anemia in patients with beta-thalassemia.
“While the Acceleron acquisition will not completely remove excess generic competition for MRK’s largest drug, Keytruda (we estimate 37% of 2021 sales), it does help diversify sales. which addresses an important shareholder concern, ”said Louise Chen, analyst at Cantor Fitzgerald. said in a customer note.
The transaction is expected to close in the fourth quarter.
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