Merck has held talks to buy Swiss biotech MoonLake Immunotherapeutics for more than $3 billion, the Financial Times reported on Monday, citing three people familiar with the matter. MoonLake’s shares rose 19% in extended trading. Merck submitted a nonbinding offer for MoonLake earlier this year, according to the report, which added that the initial approach was rejected but talks could be revived. Merck’s approach for MoonLake ahead of late-stage clinical data for its flagship drug puts the biotech on a strong footing to get sold, the report said.
Read the full article: Merck Held Talks to Buy Biotech MoonLake for over $3B //
Source: https://finance.yahoo.com/news/merck-held-talks-buy-biotech-210819109.html