 "Merck to buy Acceleron Pharma in deal valued at $11.5 billion")
Merck & Co. agreed to buy Acceleron Pharma Inc. in a deal valuing the drugmaker at $11.5 billion, building out its portfolio of therapies to treat cancer and rare diseases.
Acceleron shareholders will get $180 a share in cash, the companies said in a statement.
The deal represents a 34% premium over the price at the end of last month, when the shares traded at $133.88. They began soaring in mid-September, and Bloomberg reported Sept. 24 that the company was in advanced sale talks.
Merck is among several companies that have been on the hunt for future blockbuster drugs through acquisitions, including Sanofi, Pfizer Inc., Amgen Inc., Gilead Sciences Inc. and Roche Holding AG.
Acceleron’s pipeline includes a pulmonary arterial hypertension drug called Sotatercept in late-stage development. Public since 2013, the company’s shares have climbed about 56% in the past 12 months.
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