Merck to Buy Idenix Pharma for $3.85 Billion

Merck will spend nearly $4 billion for Idenix Pharmaceuticals with a per-share bid worth more than triple the per-share price of the hepatitis C drug developer. Merck & Co says the Cambridge, Massachusetts, company has built a promising portfolio of hepatitis C treatments, including three in clinical testing Merck will spend $24.50 per share in cash for each share, which closed at $7.23 Friday. Shares of Idenix Pharmaceutical...