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Merck begins offer for Cubist shares in $8.4 billion deal

2014-12-20 11:42:26| Biotech - Topix.net

The drugmaker Merck is launching its previously-disclosed $8.4 billion offer to buy Cubist Pharmaceuticals shares in a deal that aims to strengthen its ability to treat serious infections, an issue drawing growing concern globally. Merck said earlier this month that it will pay $102 in cash for each share of Cubist, which represented a 37 percent premium to the stock's closing price before the deal was announced.

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FDA OKs Cubist antibiotic for serious infections

2014-12-20 02:18:07| Biotech - Topix.net

The Food and Drug Administration has approved a new combination medicine to fight complex infections in the abdomen and urinary tract, the fourth antibiotic the agency has approved this year. The approval of Zerbaxa is the second antibiotic approval this year for Cubist Pharmaceuticals, which agreed earlier this month to be acquired for $8.4 billion by the world's fourth-biggest drug maker, Merck & Co.

Tags: infections fda antibiotic oks

 
 

Merck Begins Tender Offer to Acquire Cubist

2014-12-19 14:00:00| Merck.com - Corporate News

Dateline City: KENILWORTH, N.J. KENILWORTH, N.J.--(BUSINESS WIRE)--Merck (NYSE:MRK), known as MSD outside the United States and Canada, is commencing today, through a subsidiary, a cash tender to purchase all outstanding shares of common stock of Cubist Pharmaceuticals, Inc. (NASDAQ:CBST). On Dec. 8, 2014, Merck announced its intent to acquire Cubist. Language: English Contact: MerckMedia:Lainie Keller, 908-236-5036Steve Cragle, 908-740-1801orInvestors:Joe Romanelli, 908-740-1986Justin Holko, 908-740-1879 Ticker Slug: Ticker: MRK Exchange: NYSE Ticker: CBST Exchange: NASDAQ read more

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Merck committed to Cubist after patent losses

2014-12-09 19:25:55| Biotech - Topix.net

Merck remains committed to its $8.4 billion acquisition of Cubist Pharmaceuticals even though a federal court invalidated most of the patents protecting the company's top-selling antibiotic just hours after that deal was announced Monday. Shares of both companies tumbled Tuesday morning in the first day of trading after Cubist said a federal court invalidated four patents protecting Cubicin.

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Merck dives into 'superbug' chase with Cubist

2014-12-08 17:23:28| Biotech - Topix.net

Merck will spend $8.4 billion to buy Cubist Pharmaceuticals and push deeper into treating so-called "superbugs" that have drawn dire warnings from global health organizations. The company said Monday that the deal will give it stronger footing in hospital acute care and help it address antibiotic resistance, which the Whitehouse Station, New Jersey, drugmaker called a critical area of unmet medical need.

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