Rakuten on January 9
Merck & Co) has been agreed to a value of 6$800 million deal to acquire cancer drug manufacturer Harpoon Therapeutics to strengthen its oncology pipeline.
Merck will acquire Harpoon for $23 per share in cash**, with the transaction expected to close in the first half of 2024.
"We will continue to expand our oncology pipeline through strategic acquisitions that complement our current portfolio and advance breakthrough science to help meet the needs of cancer patients around the world," said Dean Li, President of Merck Research Laboratories. ”
Merck is looking for new growth** as its best-selling drug, Cancer Immunity**, Keytruda, could face pricing pressure by the end of the decade. Keytruda generated $20.9 billion in revenue in 2022, making it one of the best-selling drugs in the world.
Merck expects annual sales of a suite of experimental cancer drugs to exceed $20 billion by the mid-2030s, double the previous forecast of more than $10 billion.
Merck CEO Rob D**is said that deal activity in the pharmaceutical industry has become more competitive, **starting**, but the company's scientists can identify good opportunities early, as in the case of Harpoon.
Harpoon is developing drugs that use the body's immune system to fight cancers, including a form of lung cancer and multiple myeloma. The technology involves T-cell binders, which are drugs designed to use the patient's own immune system to kill tumor cells. The company's lead drug candidate targets a molecule called δ-like ligand 3, which is found in high concentrations in small cell lung cancer and neuroendocrine tumors.
The drug is currently in early stages of trials as a single agent for certain patients with advanced cancers and is being studied in combination with existing small cell lung cancer immunity**.
Harpoon Therapeutics shares jumped 112% on the newsAs of today**, Harpoon Therapeutics shares are trading at $22$36 with a market cap of $3$7.9 billion.
Lei Di was founded by ** Lei Jianping, if ** please in**.