May 21, 2019 / 10:54 AM / 3 months ago

Merck to buy cancer drug developer Peloton for $1.05 bln in cash

May 21 (Reuters) - Merck & Co Inc said on Tuesday it would buy Peloton Therapeutics Inc for $1.05 billion in cash to gain access to the privately held company’s renal cancer drug candidate.

Peloton shareholders will be eligible to receive a further $1.15 billion on achieving certain milestones. (Reporting by Manas Mishra in Bengaluru; Editing by Shinjini Ganguli)

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