(MENAFN) US pharmaceutical group Merck announced it was buying Spanish antibiotics maker Cubist Pharmaceuticals for a value estimated at USD9.5 billion, AFP reported.
The deal involves a transaction of USD8.4 billion, with the rest of the USD1.1 billion in debt, as the Massachusetts-based company posted revenue of USD1 billion in 2013.
"Cubist is a global leader in antibiotics and has built a strong portfolio of both marketed and late-stage pipeline medicines," Merck chairman and chief executive said in a statement.
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