February 21, 2018 / 9:26 AM / 10 months ago

Merck to buy Viralytics for $394 mln to boost immuno-oncology

Feb 21 (Reuters) - U.S. drugmaker Merck & Co, already one of the leaders in the hot area of cancer immunotherapy, said on Wednesday it had agreed to buy Viralytics for 502 million Australian dollars ($394 million) to expand its drug pipeline.

Merck will pay 1.75 Australian dollars per share for the Sydney-based biotech company, which uses viruses to infect and kill cancer cells. That represents a premium of 160 percent to the average stock price over the past month. ($1 = 1.2740 Australian dollars) (Reporting by Ben Hirschler, editing by Louise Heavens)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below