Merck Buys Inspire for $430M

Xconomy New York — 

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.