Merck (NYSE: MRK) stock price continues its slow gains moving into Thursday market open, entering into a new agreement with biopharmaceutical company Acceleron Pharma Inc, (NASDAQ: XLRN).
Extending its gradual gains, Merck has today announced a new venture involving the acquisition of Acceleron through a subsidiary for $180 per share – at an aggregate cost of $11.5 billion.
Acceleron’s noticeable progress with their work in cell growth certainly hasn’t slipped under the radar. Focusing on life-threatening cardiovascular disorders such as pulmonary arterial hypertension (PAH), its key therapeutic candidate ‘Sotatercept’ is currently in Phase 3 of clinical trials.
Rob Davis, CEO and President of Merck announced; “Acceleron’s innovative research has yielded an exciting late-stage candidate that complements and strengthens our growing cardiovascular portfolio and pipeline and holds the potential to build upon Merck’s proud legacy in cardiovascular disease”
With Habib Dable, CEO and President of Acceleon adding:
“We believe Merck is well-positioned to apply its industry-leading clinical and commercial capabilities to harness the potential of sotatercept as we join together to help make an impact on cardiopulmonary disease for the benefit of patients.”
While writing, Merck price has remained relatively steady in its gains, currently trading around $76.38 at a gain of roughly 1.84%. The acquisition and total share transfer is set to finalise in the fourth quarter of 2021.
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Nigel has been in the regulated financial services industry for nearly a decade, has previously owned a financial brokerage and has written many times for sites relating to personal finance and trading.