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Merck will need to own ALNY's patents in order to own the complete spectrum of rNAI delivery patents. Sirna had a bunch and ALNY owns the majority of the rest. Expect Merck to buy ALNY as well. Just a matter of time.
RNAI went from less than $6 to about $13 in 2 minutes after market when the buyout news came out. It was one of the happiest trading days of my life.