Rosetta Inpharmatics Inc

Merck & Co. said it will acquire biotech company Rosetta Inpharmatics Inc. for about $620 million in hopes its genomic research tools will help speed development of new medicines. The drug giant said it will pay 0.2352 share for each share of Rosetta, representing an 82% premium on Rosetta based on Thursday's closing prices. Rosetta shares rocketed nearly 75%, or $7.43, to close at $17.34 on Nasdaq, while shares of Whitehouse Station, N.J.-based Merck closed off 58 cents at $75.

Merck & Co. said it will acquire biotech company Rosetta Inpharmatics Inc. for about $620 million in hopes its genomic research tools will help speed development of new medicines. The drug giant said it will pay 0.2352 share for each share of Rosetta, representing an 82% premium on Rosetta based on Thursday's closing prices. Rosetta shares rocketed nearly 75%, or $7.43, to close at $17.34 on Nasdaq, while shares of Whitehouse Station, N.J.-based Merck closed off 58 cents at $75.

San Diego-based Sequenom Inc. said Tuesday it will buy Britain's Gemini Genomics for $228 million in stock, part of a wave of consolidation in the emerging genomics industry. Sequenom said the tie-up would combine its genotyping technology platform with Gemini's expertise in population genetics, expanding their potential for disease-gene discovery.