Boston, MA 06/13/2014 (wallstreetpr) – Merck & Co. Inc. (NYSE:MRK) research Chief Roger Perlmutter has stated that the company is more than open to the idea of buying big acquisitions of biotech companies rather than go forward and obtain drug development technologies. Mr. Perlmutter reiterated the company’s attitude for new deals at the back of the planned $3.85 billion acquisition of Idenix Pharmaceuticals Inc. (NASDAQ:IDIX).
Merck has already announced its plans to buy Idenix and planning to combine the two company’s oral drugs for hepatitis C, with a view of producing a faster cure for the fatal liver infection that currently affects more than 170 million people worldwide. This is part of Merck’s efforts to be a pioneer in the development of Hepatitis C drugs.
Mr. Roger also maintains that newer drugs are hoped at tripling therapy using Idenix’s IDX21437 sure to make Merck & Co. Inc. (NYSE:MRK) a top competitor in the Hepatitis C spectrum.
Merck & Co Merger With Idenix Impact On Idenix
Merck & Co. Inc. (NYSE:MRK)’s $3.85 billion acquisition of Idenix essentially gives it additional experimental medicines. Idenix Pharmaceuticals Inc. (NASDAQ:IDIX) is reported to be developing a medicine class called ‘nucs,’ a valuable part in new treatment regimens. The company looks to have done a big deal through the acquisition of Idenix seen by the fact that Hepatitis C Sales estimates are expected to clock more than $20 billion.
The merger between Idenix and Merck & Co could also have dealt a major blow to Gilead Sciences, Inc. (NASDAQ:GILD) with its lead drug Sovaldi. Both Merck & Co. Inc. (NYSE:MRK) and Idenix claim to own intellectual property behind Gilead’s Sovaldi. Individually, the two company’s might not have been strong to challenge Gilead but now they can go all the way.
According to Skorney, an analyst, Merck & Co. Inc. (NYSE:MRK) is likely to opt for consolidation of the two companies lawsuits against Idenix Pharmaceuticals Inc. (NASDAQ:IDIX) as this will give them a much needed bargaining power against Gilead.
