Merck & Co., Inc. (MRK) is a global healthcare solutions provider that has been working towards bringing forward medicine and vaccines for some the of the world’s most challenging diseases for more than a century. They are committed to increasing health care access and continue to be at the leading edge of research.
Merck announced this week that is acquiring Dallas based Peloton Therapeutics Inc. for $1.05 billion in cash and $1.15 billion in additional payments tagged to how well their experimental development proceeds.
Reportedly, Merck’s Chief Executive Officer Ken Frazier stated in a conference in April that the company was looking for mid-sized deals to help diversify its market offering, especially targeting cancer treatment. Peloton’s primary area of research is the treatment of Kidney Cancer seems to clearly check the box in this regard for the drug maker.
Credit Suisse and Centerview Partners are representing Merck and Peloton as financial advisers respectively and expect the transaction to close in Q3 2019.
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