Pharma Giant Merck Makes Potential $2 Billion Bet on a Dallas-based Cancer Drug Maker

This story is developing and will be updated.On the eve of its initial day of public stock trading, Dallas-based cancer drug maker Peloton Therapeutics has been sold to pharmaceuticals giant Merck in a deal that could total $2.2 billion.Merck will pay $1.05 billion in cash now, plus $1.15 billion in additional payments based on how Peloton's experimental drugs are further developed. Peloton was set to go public Wednesday.The New Jersey-based company announced the acquisition Tuesday. It said that the deal will expand its pipeline of cancer-fighting drugs.   Continue reading...

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