Merck has agreed to acquire Cidara Therapeutics, the developer of an experimental flu therapy, in a significant $9.2 billion deal aimed at expanding its pipeline as it braces for revenue declines following the impending patent expiration of its blockbuster drug, Keytruda. Cidara’s innovative treatment targets individuals who do not respond well to traditional vaccines, including the elderly and immunocompromised patients. The company’s stock has surged over fourfold since June, fueled by encouraging Phase 2 trial results for its flu treatment, CD388, with Phase 3 enrollment expected to conclude by year-end.
In another development, Bristol Myers Squibb and Johnson & Johnson’s next-generation blood thinner, milvexian, has encountered setbacks, failing in one of three late-stage trials. Designed to inhibit factor XIa and prevent dangerous blood clots, milvexian’s trial for acute coronary syndrome will be halted, raising concerns about its future market potential. Analysts had previously estimated that successful trials could position milvexian to surpass Eliquis, generating over $14.5 billion in sales. The mixed results highlight the challenges pharmaceutical companies face in advancing innovative therapies while managing investor expectations.
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