Merck & Co Inc's research chief Roger Perlmutter said the No. 2 U.S. drugmaker would consider big acquisitions of biotech companies for their medicines, rather than to obtain their drug-development technologies. Perlmutter, speaking on Thursday to analysts and investors at the annual Goldman Sachs healthcare conference being held near Los Angeles, said Merck continues to have an appetite for deals following its planned $3.85 billion purchase of Idenix Pharmaceuticals Inc.Merck earlier this week announced its agreement to purchase Idenix, and plans to combine the two companies' most promising oral drugs for hepatitis C to produce a faster, more effective cure for the often-fatal liver infection affecting 170 million people worldwide.Perlmutter on Thursday said Merck has been a pioneer in development of hepatitis C drugs, including injectable interferon medicines that had been the backbone of therapy but which are now being sidelined in favor of more effective and better-tolerated drugs.He said newer Merck drugs, including a hoped-for triple therapy using an experimental Idenix treatment called IDX21437, will make Merck a top hepatitis C competitor in years to come.
Idenix Pharmaceuticals, Inc. (Idenix) is a biopharmaceutical company engaged in the discovery and development of drugs for the treatment of human viral diseases with operations in the United States and France. Shares of IDIX traded higher by 0.3% or $0.07/share to $23.63. In the past year, the shares have traded as low as $2.93 and as high as $24.21. On average, 2121070 shares of IDIX exchange hands on a given day and today's volume is recorded at 2712560.
Merck & Co., Inc. (Merck) is a global health care company that delivers health solutions through its prescription medicines, vaccines, biologic therapies, animal health, and consumer care products, which it markets directly and through its joint ventures. Shares of MRK fell by 0.21% or $-0.12/share to $58.25. In the past year, the shares have traded as low as $44.62 and as high as $59.84. On average, 10451300 shares of MRK exchange hands on a given day and today's volume is recorded at 6790913.
Source
