On Sunday, Merck & Co. announced that it would acquire Prometheus Biosciences Inc. for around $10.8 billion, bolstering its position in the field of immunology and acquiring a promising experimental treatment for ulcerative colitis and Crohn’s disease.
A 75.4% premium over Prometheus’ most recent closing price, Merck will pay $200 a share for the California-based biotechnology business that specializes in autoimmune disease treatments. In an interview, Robert Davis, chief executive of Merck, said, “This is allowing us to move into immunology in a strong way and will allow us sustainable growth, we think, well into the 2030s.”
A counter-bid is unlikely because other significant pharmaceutical companies already have significant exposure to inflammatory bowel disease (IBD) or immunology.