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Biotech / Medical : Munch-a-Biotech Today

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From: pgo-neil	6/9/2014 8:23:39 AM
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MRK buys IDIX for almost $4B. marketwatch.com Idenix Pharmaceuticals Inc. IDIX +236.10% shares more than tripled in price in Monday's premarket trade after Merck & Co. Inc. MRK -0.43% said it would buy the company in a cash deal at $24.50 per share. The stock was last up 235% at $24.23 after closing at $7.23 on Friday. The Merck buyout values Idenix at $3.85 billion, the companies said Monday. Idenix focuses on treatment of human viral diseases, and has a portfolio of hepatitis C candidates that Merck called "promising". Merck will complete the purchase by initiating a tender offer, followed by a second-step merger. At the same time, Merck has been considering selling portfolios of its older drugs to focus on faster-selling products, according to news reports. Shares of Merck were down 0.6% BTW, anybody else notice that Yahoo News is really sparse these days? Bests, graham --

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