Merck, a leading pharmaceutical company, has announced the acquisition of Prometheus Biosciences in a deal worth almost $11 billion. The agreement will see Merck purchase the autoimmune drugmaker, which specializes in developing therapies for a variety of diseases including inflammatory bowel disease and ulcerative colitis.

The acquisition will bolster Merck’s already impressive portfolio of pharmaceutical products, including key drugs like Keytruda and Gardasil, which have proven to be incredibly successful in treating cancer and HPV, respectively. According to Stefan Oschmann, CEO of Merck, “the acquisition of Prometheus Biosciences is an important strategic move for Merck as we continue to position ourselves as a leader in autoimmune diseases.”

Prometheus Biosciences has been at the forefront of research into treating autoimmune diseases, and its expertise will undoubtedly be invaluable to Merck in the future. The combination of the two companies is expected to lead to significant advancements in the development of new treatments for diseases that currently have few options available.

Merck has been on a mission to expand its presence in the lucrative autoimmune market, and the acquisition of Prometheus Biosciences is a crucial step towards achieving this goal. The deal is still subject to regulatory approval, but it’s expected to close by the end of the year.