As the world’s pharmaceutical industry continues to see an influx of consolidation, reports say the latest merger was announced when Merck and Idenix Pharmaceuticals revealed plans to combine in a $3.85 billion deal.
According to a press release, the transaction has already been approved by the boards of directors for both firms. Merck plans to boost its hepatitis C treatment portfolio through acquiring Idenix, the company said.
The transaction agreed upon includes the launch of a tender offer to acquire Idenix through one of Merck’s subsidiaries. The deal remains subject to regulatory approval as well.
Full content: Market Watch
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