Another one of Australia's biotechs is poised to be snapped up by Americans after global pharmaceutical giant Merck & Co snapped up Viralytics in a $502 million deal to secure its immunotherapy cancer drug.
MSD, which is the trade name for Merck outside of the US, has bid $1.75 cash per share for Viralyticsstaggering a 160 per cent premium to the average stock price over the past month.
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Carrie LaFrenz is a senior journalist covering retail/consumer goods. She previously covered healthcare/biotech. Carrie has won multiple awards for her journalism including financial journalist of the year from The National Press Club. Connect with Carrie on Twitter. Email Carrie at carrie.lafrenz@afr.com
