Summary of Merck & Co. Investor Call on Cidara Therapeutics Acquisition Company and Industry - **Company**: Merck & Co. (NasdaqCM:MRK) - **Acquisition Target**: Cidara Therapeutics (NasdaqCM:CDTX) - **Industry**: Pharmaceuticals, specifically focusing on antiviral treatments and infectious diseases Core Points and Arguments 1. **Acquisition Announcement**: Merck announced the acquisition of Cidara Therapeutics for $21.50 per share, totaling approximately $920 million, expected to close in Q1 2026, pending shareholder and regulatory approvals [17][18][19] 2. **Strategic Fit**: The acquisition aligns with Merck's strategy to enhance its portfolio in infectious diseases, particularly with the addition of CD388, a long-acting antiviral agent aimed at preventing influenza [4][5][6] 3. **CD388 Overview**: CD388 is a first-in-class investigational antiviral designed to provide season-long protection against influenza strains A and B, with a significant unmet medical need in high-risk populations [9][10][15] 4. **Market Opportunity**: The potential market for CD388 is estimated at over $5 billion, targeting approximately 110 million individuals in the U.S. at higher risk for influenza complications [5][15][16] 5. **Clinical Data**: CD388 demonstrated 76% efficacy in preventing influenza-like illness in a phase 2 study, with low immunogenicity and good tolerability [10][11] 6. **Regulatory Pathway**: The phase 3 trial is focused on high-risk individuals, with an interim analysis planned after the first flu season to assess the need for sample size adjustments [11][12] 7. **Financial Impact**: The acquisition will result in a charge of approximately $9 billion to R&D expenses, impacting EPS by about $0.30 in the first year [18][19] 8. **Manufacturing Plans**: Merck plans to transition manufacturing to U.S.-based facilities over time, moving away from reliance on WuXi-manufactured products [22][23] Additional Important Content 1. **Public Health Need**: Influenza poses a significant public health threat, with the CDC reporting up to 82 million infections, 1.3 million hospitalizations, and 130,000 deaths in the 2024-2025 season [7][8] 2. **Current Vaccine Limitations**: Existing flu vaccines have variable efficacy, particularly in high-risk populations, highlighting the need for innovative solutions like CD388 [8][9] 3. **Commercial Strategy**: Merck's existing infrastructure will facilitate the launch of CD388, targeting high-risk patients already within healthcare systems [56][73] 4. **Pricing Strategy**: Initial pricing research suggests a potential price point of up to $600 for CD388, aiming to provide significant protection to those inadequately covered by traditional vaccines [57][73] 5. **Future Opportunities**: Merck remains open to pursuing additional M&A opportunities in therapeutic areas such as oncology, immunology, and cardiometabolic diseases, maintaining a focus on significant unmet needs [41][42] This summary encapsulates the key points discussed during the investor call regarding Merck's acquisition of Cidara Therapeutics and the strategic implications for both companies in the context of the antiviral market.

撰文丨王聪 编辑丨王多鱼 排版丨水成文 呼吸道合胞病毒 （RSV） 是引起儿童和老年人急性下呼吸道感染的重要病原体之一。在全球范围内，每年 约有 3300 万 5 岁以下儿童感染 RSV，其中 360 万需要住院治疗。 刚毛棉鼠 （ Sigmodon hispidus ） 已成为人类 呼吸道合胞病毒 （RSV） 研究的"金标准"临床前动物模 型，因为他像人类一样， 感染 RSV 后病毒能大量复制并出现类似病症。 但科学家一直不明白，为什么棉 鼠的生理机制能如此完美地模拟人类对 RSV 病毒的反应。 在这项最新研究中，研究团队报道了棉鼠的染色体级别基因组及其在 RSV 感染全过程呼吸道单细胞转录组 图谱。 2025 年 9 月 17 日， 高福 院士、 深圳市儿童医院 麻晓鹏 院长、中国科学院微生物研究所 赵欣 副研究 员、 中国疾病预防控中心 卢选成 研究员等在 Science 子刊 Science Translational Medicine 上发表了题 为： A complete Sigmodon hispidus genome and dynamic single-cell transcriptomic ...