Merck held talks to buy MoonLake for over $3B, FT reports
Merck (MRK) held talks for a potential acquisition of Swiss biotechnology group MoonLake Immunotherapeutics (MLTX) valued at over $3B, Oliver Barnes and Patrick Temple-West of the Financial Times report, citing people familiar with the matter. An initial nonbinding offer from Merck was reportedly rejected by MoonLake, but discussions could be revived. Morgan Stanley and Goldman Sachs are advising MoonLake on the sale process. The U.S. pharmaceutical company is seeking to replenish its drug pipeline as its major cancer drug, Keytruda, approaches patent expiration. MoonLake, Merck, Goldman Sachs, and Morgan Stanley declined to comment.
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