Merck and Prometheus Biosciences, a clinical-stage biotechnology company specializing in immune-mediated diseases, announced an acquisition agreement on April 16, 2023. Merck will acquire all outstanding shares of the company for $200 per share, a total approximate equity valuation of approximately $10.8 billion. This equity valuation makes this pharma acquisition the second largest of the year, following Pfizer’s $43 billion acquisition of Seagen in March. The transaction is expected to close in the third quarter of 2023.
