Biotech Values

[DewDiligence]

MRK acquires IDIX for $24.50/sh in cash, a 239% premium to Friday’s closing price:

http://online.wsj.com/articles/merck-to-buy-idenix-for-3-85-billion-1402314298

Merck & Co. agreed to buy Idenix Pharmaceuticals Inc. in a bid to expand its portfolio of hepatitis C treatments. The pharmaceutical company said it would acquire Idenix for $24.50 per share in cash, more than three times Idenix's closing price Friday.

Idenix…currently has three hepatitis C drug candidates in clinical development… It has no products on the market.

"Idenix's investigational hepatitis C candidates complement our promising therapies in development" and will help to develop a highly effective, once-daily, all-oral treatment, said Dr. Roger Perlmutter, president of Merck Research Laboratories.

…The Merck-Idenix deal, which has been approved by both companies' boards, is expected to close in the third quarter.

The deal value is 3.85B.