Merck has finalized its acquisition of Cidara Therapeutics, tendering 27.15 million shares—approximately 85.96% of the target’s outstanding stock—at a purchase price of $221.50 per share. The deal, structured as an asset acquisition, will be accounted for by a one-time charge to research and development expenses of about $9.0 billion (roughly $3.65 per Merck share) in 2026. Management expects a near-term EPS headwind of $0.30 per share over the next 12 months, reflecting CD388 development costs and financing charges. The move strengthens Merck’s respiratory franchise with CD388, a long-acting antiviral conjugate advancing in Phase 3 trials for seasonal influenza prevention in high-risk adults and adolescents.

According to the Financial Times, Merck is in active discussions to acquire Revolution Medicines, a clinical-stage oncology specialist focused on small-molecule inhibitors of RAS-driven cancers. While terms have not been disclosed, the potential deal would extend Merck’s oncology pipeline into precision medicines targeting KRAS and HRAS mutations—areas of high unmet need. Industry analysts believe such an acquisition could offer Merck long-term growth upside beyond its established immuno-oncology and vaccine franchises, particularly if Revolution’s lead candidates progress successfully through pivotal trials.

Merck shares have climbed nearly 30% since late 2024, driven by outperformance in key therapeutic areas and positive clinical readouts. Investor confidence remains high ahead of the company’s fourth-quarter and full-year 2025 earnings conference call scheduled for February 3. Executives are expected to detail revenue contributions from newly launched products, updates on CD388 clinical progress, and guidance for 2026 R&D spending post-Cidara deal. The webcast will be accessible to institutional investors and the public, signaling management’s commitment to transparency as Merck navigates integration and pipeline expansion.