医药巨头豪掷650亿，收购超级流感药

Core Viewpoint - Merck (MSD) has acquired Cidara Therapeutics for approximately $9.2 billion, focusing on the innovative flu drug CD388, which has shown a 76% efficacy in preventing flu in clinical trials, significantly higher than traditional vaccines [1][2][5] Acquisition Details - The acquisition price of $221.50 per share reflects Merck's strong recognition and urgent need for Cidara's core asset, CD388 [5] - Following the announcement, Cidara's stock surged over 105%, reaching its highest level since 2017, while Merck's stock saw a slight increase of 0.74% [5][6] Market Potential - If CD388 is approved, it could tap into a market worth over $10 billion, leveraging Merck's established commercialization network [2][8] - The global flu vaccine market is projected to grow from $5.8 billion in 2020 to $8.9 billion by 2024, with a compound annual growth rate (CAGR) of 11.2% [10] Competitive Landscape - CD388's dual mechanism of action, combining direct pathogen targeting and immune activation, positions it as a potential "First-in-Class" preventive flu drug, addressing the limitations of current vaccines [7][12] - The drug's safety profile and ability to provide protection for 4-5 months with a single dose could fill significant gaps in the current flu prevention market [8][12] Strategic Rationale - Merck's acquisition aligns with its strategy to mitigate the impending patent cliff of its leading cancer drug, Keytruda, which is expected to lose patent protection by 2028, potentially resulting in a $18 billion revenue loss [6][13] - The acquisition is seen as a proactive move to secure new growth engines and reduce uncertainty in the company's future performance [2][5]