Merck & Co Inc said on Monday it would purchase Cubist Pharmaceuticals Inc in a deal valued at $9.5 billion, giving the major drugmaker an entry into the market for drugs that target so-called superbugs. Merck and British rival AstraZeneca Plc have turned their attention to newer kinds of antibiotics that attack superbugs - strains of bacteria that are resistant to several types of antibiotics - after the 2013 threat report from the U.S. Centers for Disease Control and Prevention.The CDC estimated that more than 2 million people in the United States are sickened every year by such infections, with at least 23,000 dying as a result. (1.usa.gov/1w5Hhml)Cubist's lead drug, Ceftolozane/Tazobactamis, is widely expected to win marketing approval from the U.S. Food and Drug Administration later this month as a treatment for complicated urinary tract infections.Merck will pay $102 per share for Cubist, a premium of 37 percent to the Lexington, Massachussetts-based company's closing share price of $74.36 on Friday.
AstraZeneca PLC (AstraZeneca) is a global biopharmaceutical company. Shares of AZN fell by 0.3% or $-0.22/share to $73.72. In the past year, the shares have traded as low as $56.12 and as high as $82.68. On average, 1903340 shares of AZN exchange hands on a given day and today's volume is recorded at 1061642.
Cubist Pharmaceuticals, Inc. (Cubist) is a biopharmaceutical company focused on the research, development and commercialization of therapies to treat serious medical conditions in acutely ill patients who are hospitalized or are being treated in other acute care settings. Shares of CBST fell by 0.21% or $-0.16/share to $74.36. In the past year, the shares have traded as low as $58.50 and as high as $82.12. On average, 627466 shares of CBST exchange hands on a given day and today's volume is recorded at 604975.
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 traded higher by 0.94% or $0.57/share to $61.49. In the past year, the shares have traded as low as $47.61 and as high as $61.77. On average, 10607400 shares of MRK exchange hands on a given day and today's volume is recorded at 11172545.
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