Merck To Acquire Verona Pharma For $107/ADS

(RTTNews) - Merck (MRK) and Verona Pharma plc (VRNA) have entered into a definitive agreement under which Merck, through a subsidiary, will acquire Verona Pharma for $107 per American Depository Share, each of which represents eight Verona Pharma ordinary shares, for a total transaction value of approximately $10 billion. Verona Pharma is a biopharmaceutical company focused on developing and commercializing therapies for the treatment of chronic respiratory diseases with significant unmet medical needs.

Through the acquisition, Merck will add Ohtuvayre, a selective dual inhibitor of phosphodiesterase 3 and 4, to its cardio-pulmonary pipeline and portfolio. The FDA approved Ohtuvayre in June 2024 for the maintenance treatment of chronic obstructive pulmonary disease in adult patients.

Shares of Verona Pharma are up 20% in pre-market trade on Wednesday.

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