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German Merck Seals USD10B Deal to Purchase UK’s Verona Pharma
(MENAFN) German pharmaceutical giant Merck revealed on Wednesday that it has finalized a $10 billion agreement to purchase UK-based Verona Pharma at $107 per share. This strategic move aims to broaden Merck’s portfolio of treatments targeting respiratory illnesses.
Merck highlighted in its announcement, "Through this acquisition Merck will add Ohtuvayre (ensifentrine), a first-in-class selective dual inhibitor of phosphodiesterase 3 and 4 (PDE3 and PDE4), to its growing cardio-pulmonary pipeline and portfolio."
The company noted that the US Food and Drug Administration granted approval for Ohtuvayre in June 2024, specifically for the ongoing treatment of chronic obstructive pulmonary disease (COPD) in adults.
“Ohtuvayre is the first novel inhaled mechanism for the treatment of COPD in more than 20 years and combines bronchodilator and non-steroidal anti-inflammatory effects. Ohtuvayre is also being evaluated in clinical trials for the treatment of non-cystic fibrosis bronchiectasis,” Merck’s statement added.
Robert M. Davis, Merck’s CEO, said: “This acquisition of Verona Pharma reflects the commitment we have to delivering innovative treatments to patients and our ability to execute on our science-led and value-driven business development strategy."
The announcement confirmed that both Merck and Verona Pharma’s Boards of Directors gave unanimous approval to the deal, which will be executed through a scheme of arrangement compliant with UK law.
Merck highlighted in its announcement, "Through this acquisition Merck will add Ohtuvayre (ensifentrine), a first-in-class selective dual inhibitor of phosphodiesterase 3 and 4 (PDE3 and PDE4), to its growing cardio-pulmonary pipeline and portfolio."
The company noted that the US Food and Drug Administration granted approval for Ohtuvayre in June 2024, specifically for the ongoing treatment of chronic obstructive pulmonary disease (COPD) in adults.
“Ohtuvayre is the first novel inhaled mechanism for the treatment of COPD in more than 20 years and combines bronchodilator and non-steroidal anti-inflammatory effects. Ohtuvayre is also being evaluated in clinical trials for the treatment of non-cystic fibrosis bronchiectasis,” Merck’s statement added.
Robert M. Davis, Merck’s CEO, said: “This acquisition of Verona Pharma reflects the commitment we have to delivering innovative treatments to patients and our ability to execute on our science-led and value-driven business development strategy."
The announcement confirmed that both Merck and Verona Pharma’s Boards of Directors gave unanimous approval to the deal, which will be executed through a scheme of arrangement compliant with UK law.
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