US-based drugmaker Merck is reportedly planning to buy antibiotics maker Cubist Pharmaceuticals, in a deal valued at more than $8bn.
Merck intends to pay $100 per share for Cubist, bringing the value of the company to $7.5bn.
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Massachusetts-based Cubist produces drugs to treat infectious diseases and other conditions. Its flagship product, Cubicin was developed to treat serious infections.
Cubist reported Cubicin generated $967m in sales in 2013.
According to media sources, officials from both companies were unavailable for comment concerning the development.
If finalised, Merck may finance the deal with cash, stock or a combination.
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By GlobalDataAccording to New York Times, which first reported the news about the potential deal, Merck plans to buy Cubist, as part of its strategy announced in 2013 to minimise its focus on areas including diabetes, acute hospital care, vaccines and oncology.
Merck agreed to acquire Idenix Pharmaceuticals for $3.9bn in June, while it divested its consumer-healthcare division to Bayer for $14.2bn in October.
The company recently announced that Keytruda (pembrolizumab), its anti-PD-1 therapy, achieved an overall response rate of 66% in transplant-ineligible and failure patients with relapsed / refractory classical Hodgkin Lymphoma (cHL) whose disease progressed on or after treatment with brentuximab vedotin.
