Merck & Co. said it is buying ArQule Inc. for about $2.7 billion, adding to its portfolio of cancer treatments beyond the company’s top-selling immunotherapy drug Keytruda. The purchase price, at $20 a share in cash, is more than double Friday’s closing price of $9.66 for ArQule, a Burlington, Mass., biopharmaceutical company.
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Merck to buy ArQule for $2.7 billion