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Merck & Co's Viralytics Buy Puts Oncolytic Viruses Back In Spotlight

 
• By Kevin Grogan

The US major is spending $394m to get hold of Cavatak, an immunotherapy that it hopes will work well in combination with the anti-PD-1 blockbuster Keytruda.

Merry-go-round
All aboard: Merck & Co is the latest big pharma to take part in M&A this year • Source: Shutterstock

Merck & Co. Inc. has jumped on the merger and acquisitions merry-go-round to snap up Australia's Viralytics Ltd. and broaden its research efforts in oncolytic virus therapy.

The US giant is paying A$502m ($394m), or A$1.75 per share, which represents a premium of 160% to the Sydney-headquartered group's average stock price over the last month. For its...

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