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Bengaluru: Merck & Co Inc said on Monday it would acquire cancer drug developer Imago BioSciences for a total equity value of $1.35 billion.
Merck’s offer of $36 per share in cash for Imago represents nearly a 107 per cent premium to the company’s last closing price.
The deal for the clinical-stage biopharmaceutical company that is developing drugs for the treatment of bone marrow-related diseases is expected to close in the first quarter of 2023, Merck said.
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