Merck Acquires Prometheus Biosciences for $10.8 Billion in All-Cash Deal

Prometheus Biosciences' stock has ended its public-market run after being acquired by Merck in an all-cash deal worth $10.8 billion.

The transaction, which was first announced on April 16, 2023, saw Merck offer $200 per share for Prometheus Biosciences' stock, representing a 75% premium over the company's prior closing price.

Prometheus Biosciences was a biotechnology company that focused on developing precision-medicine products for inflammatory bowel disease, including ulcerative colitis and Crohn's disease.

The acquisition transfers the value of Prometheus Biosciences from public-market pricing to an agreed cash consideration, while the underlying focus remains on the company's research and diagnostics in the field of inflammatory bowel disease.