Merck Buys Inspire for $430M

Luke Timmerman4/5/11

Merck (NYSE: MRK) said today it has agreed to acquire Raleigh, NC-based Inspire Pharmaceuticals (NASDAQ: ISPH) for $430 million. Merck agreed to pay $5 a share, or about a 26 percent premium above Inspire’s last closing stock price before the deal was announced. Inspire markets azithromycin ophthalmic solution (Azasite) for the treatment of eye infections.

Luke Timmerman is the National Biotech Editor of Xconomy. E-mail him at ltimmerman@xconomy.com Follow @