Merck Nears Premium Deal to Acquire Cidara Therapeutics

Merck is on the verge of securing a major acquisition, moving close to a deal to buy biotechnology company Cidara Therapeutics at a premium to its roughly $3.3 billion market value, according to information shared on Thursday. People familiar with the discussions told the Financial Times that the agreement could be announced as early as Friday if final negotiations stay on track.

The bidding process remained active until late Thursday, with another pharmaceutical company still in competition before Cidara shifted toward Merck’s proposal. Although the exact purchase price has not been disclosed, the deal is expected to combine upfront cash with milestone-based payments tied to clinical progress. Such a structure is commonly used in biotech acquisitions where drug candidates are still under development.

Cidara has drawn significant industry attention in recent months. In October, the U.S. Food and Drug Administration granted “breakthrough therapy” designation to CD388, the company’s experimental antiviral designed to prevent influenza A and B in high-risk individuals. The designation aims to accelerate development and regulatory review for treatments addressing serious medical needs.

Cidara declined to comment on the ongoing talks, and Merck did not immediately provide a response. If finalized, the acquisition would mark a notable step for Merck as it expands its portfolio in infectious disease prevention and strengthens its position in the competitive biotech landscape.