XLRN - Merck CEO: Acceleron buy part of broader M&A strategy

Merck (NYSE:MRK) CEO Robert Davis said Thursday that its $11.5B purchase of Acceleron (NASDAQ:XLRN) fits into its strategy of making acquisitions that complement its product offerings by adding novel medicines to its portfolio. In an interview with CNBC, Davis also left the door open for future acquisitions, noting that he was always on the hunt "to augment what we see as an exciting internal pipeline." "This is an important step, but it isn't the only step," he said. Early Thursday, Merck (MRK) announced that it has reached a deal to acquire Acceleron Pharma (XLRN) for $180 per share in cash, or a total equity value of $11.5B. The deal is projected to close in Q4. Davis reported that the acquisition complements its cardiovascular pipeline by adding sotatercept, a drug currently in late-stage testing for pulmonary arterial hypertension. Describing the firm's overall M&A strategy, the Merck CEO said he looked for

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Merck CEO: Acceleron buy part of broader M&A strategy