Merck & Co. is reportedly closing in on the acquisition of Cidara Therapeutics, a biotechnology company focused on long-acting antibody treatments for influenza. The deal is expected to value Cidara above its USD 3.3 billion market capitalisation. Merck emerged as the preferred bidder after a competitive process involving at least one other pharmaceutical company.

While the exact transaction structure has yet to be made public, it is expected to include a combination of cash upfront and milestone-based payments linked to clinical progress. The acquisition aligns with Merck’s strategy to bolster its development pipeline and diversify revenue as it prepares to manage patent expirations on key existing drugs.

This move comes shortly after Cidara’s lead candidate, CD388, received Breakthrough Therapy designation from the US Food and Drug Administration, which could accelerate its development and approval timeline.