Merck (MRK) is near an agreement to acquire Cidara Therapeutics (CDTX), a drugmaker working on a long-acting flu antibody treatment, after besting rival pharma companies in a bidding war that went down to the wire, the Financial Times’ Oliver Barnes and James Fontanella-Khan report, citing people familiar with the matter. A transaction valuing the company at a premium tot its $3.3B market cap could be announced as soon as Friday, the authors note.
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