Jim Cramer Explains Why He's in Favor of Merck's Acquisition of Cubist
Cramer says any company that has any formulation that can wipe out the diseases that occur in hospitals may actually have a bigger market than people realize.
Jim Cramer says any company that has any formulation that can wipe out the diseases that occur in hospitals may actually have a bigger market than people realize and thinks that's one of the reasons for Merck's acquisition of Cubist. Drug giant Merck announced Monday it will buy Cubist Pharmaceuticals for about $9.5 billion or $102 a share. Cubist produces advanced antibiotics to fight 'superbugs'. Cramer says he's in favor of this acquisition if Cubist really has something; if they don't have anything of course it would be a huge write off. But he doesn't believe Merck would make the acquisition without believing that Cubist has superbug cures in its pipe.
