• Merck Makes a Big Blood Cancer Bet With $2.7B Deal for ArQule

    7 monthes ago - By Xconomy

    Merck is acquiring cancer drug developer ArQule for $2.7 billion , a cash deal that brings it a promising early-stage compound that could challenge a blockbuster leukemia drug from AbbVie. According to terms of the agreement announced Monday, a Merck subsidiary will pay $20 for each share of ArQule , a 107 percent premium to Friday's closing stock price. The offer values Burlington, MA-based ArQule at $2.7 billion. ArQule develops a type of drug called a kinase inhibitor. Kinases are proteins that play a role in the growth and spread of cancers. Lead ArQule drug candidate...
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