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Merck Reportedly In Talks to Buy Biotech Firm Revolution Medicines for Up to US$32B
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Merck (MRK.US) is in talks to acquire cancer drug developer Revolution Medicines (RVMD.US) for a price ranging from US$28 billion to US$32 billion, the Financial Times reported, citing people with the knowledge of the matter. Spurred by the news, Revolution Medicines' stock price ballooned 15.14% in after-hours trading to US$123.65. The transaction has not been finalized and is expected to take at least several weeks, while other major pharmaceutical groups are still keeping tabs on the situation of Revolution Medicines, sources divulged. AASTOCKS Financial News Website: www.aastocks.com |
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