Two more pharma giants prefers acquisition of cancer-based biotech firms
Merck to acquire ArQule for an equity value of $2.7 billion, and Sanofi agreed to buy Synthorx Inc. for $2.5 billion.
Merck and ArQule announced that they entered an agreement in which Merck will acquire ArQule through its subsidiary. As per the agreement, Merck will pay $20 per each share in cash for a total equity value of 2.7 billion.
ArQule is a biopharmaceutical company focused on developing kinase inhibitors for treating patients who have cancer and other diseases. ARQ 531 is the lead compound, a Bruton’s tyrosine kinase (BTK) inhibitor currently in Phase 2. The drug is expected to target different B-cell malignancies. ARQ 531 is a highly selective, reversible inhibitor that blocks wild-type BTK and C481S mutations.
In another acquisition, Sanofi has acquired Synthorx Inc. for $2.5 billion. As per the agreement, Sanofi agreed to pay $68 per share. The deal makes the Paris based pharmaceutical giant have a better oncology pipeline.
Earlier in the year, the UK based GlaxoSmithKline acquired Tesaro for $5.1 billion.