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Pharma giant Merck has agreed to acquire flu prevention biotech Cidara Therapeutics in a deal worth about $9.2 billion.

Why it matters: It's the latest mega deal in the pharmaceutical sector.

By the numbers: Merck, through a subsidiary, will buy Cidara for $221.50 per share in cash.

The share purchase price is 109% higher than Cidara's closing price yesterday.

BofA Securities and Gibson Dunn advised Merck. Evercore, Goldman Sachs and Cooley advised Cidara.

How it works: Cidara's lead candidate, CD388, is a long-acting antibody that protects against the flu.

It is being studied in Phase 3 trials in adult and adolescent patients.

What they're saying: "This acquisition expands and complements our respiratory portfolio and pipeline," Dean Y. Li, Merck Research Laboratories president, said in a statement.

What's next: The deal is expected to close in Q1 of 2026.

Editor's note: This story has been updated to reflect the share price premium and the deal's expected close timing. 

Merck to buy Cidara Therapeutics in $9.2B deal

The deal for the flu prevention biotech is expected to close in 2026.

Illustration of a hand on a syringe with a dollar bill inside

Pharma giant Merck has agreed to acquire flu prevention biotech Cidara Therapeutics in a deal worth about $9.2 billion.Why it matters: It&#x27;s the latest mega deal in the pharmaceutical sector.

Merck to buy Cidara Therapeutics in $9.2B deal

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