Merck to Buy , Prometheus Biosciences.<br />Reuters reports that on April 16, Merck announced that it will buy the biotech company for close to $10.8 billion.<br />It will pay $200 per share for Prometheus, which specializes in autoimmune disease treatments. .<br />This is allowing us to move <br />into immunology in a strong way and will allow us sustainable growth, we think, well into the 2030s given the long patent life, Robert Davis, Merck Chief Executive, via Reuters.<br />We've been watching their clinical development program for a while, Robert Davis, Merck Chief Executive, via Reuters.<br />One drug in particular, PRA023, <br />is being developed to treat <br />ulcerative colitis and Crohn's disease.<br />Merck has acquired a game-changing asset in PRA023, Robert Davis, Merck Chief Executive, via Reuters.<br />I believe now we have a very strong portfolio in the cardiometabolic space. We see this acquisition of Prometheus building out a similar portfolio in the immunology space, Robert Davis, Merck Chief Executive, via Reuters.<br />Merck hopes to close the deal in Q3 2023.<br />If all goes as planned, a late-stage <br />study of PRA023's effects on <br />ulcerative colitis could begin in Q4 2024.<br />Reuters reports that Merck could begin to see revenue from acquiring Prometheus at around the same time its patents for Keytruda, a cancer immunotherapy, potentially expire
