Merck & Co Inc said it would purchase Cubist Pharmaceuticals Inc for $8.4 billion plus assumption of debt, giving the major drugmaker an entry into the market for drugs that combat so-called superbugs.The deal is the latest sign that large pharmaceutical companies are turning their attention back to antibiotics after decades of low investment.The spread of superbugs that evade even the most powerful antibiotics threatens modern medicine, the World Health Organization said in April, warning of "a post-antibiotic era" in which common infections were killers once again.The U.S. Centers for Disease Control and Prevention estimated last year that more than 2 million people in the United States are sickened every year by superbug infections, with at least 23,000 dying as a result. (1.usa.gov/1w5Hhml)
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 traded higher by 35.29% or $26.24/share to $100.60. 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 32609466.
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 0.63% or $0.39/share to $61.88. 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 11393389.
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