Merck Reveals Acquiring UK’s Verona Pharma
(MENAFN) Merck, a German drugmaker, revealed on Wednesday that it has finalized a deal to purchase the UK-headquartered Verona Pharma for $10 billion, or $107 per share.
This strategic acquisition is aimed at enhancing Merck’s range of treatments for lung-related diseases.
According to a company statement, "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 move signifies Merck's continued investment in innovative respiratory therapies.
The pharmaceutical giant disclosed that the U.S. Food and Drug Administration granted approval to Ohtuvayre in June 2024.
The medication is intended for the ongoing management of chronic obstructive pulmonary disease (COPD) in adult patients.
As noted in the announcement, "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." This highlights the drug’s potential in addressing unmet needs in respiratory care.
Merck’s Chief Executive Officer, Robert M. Davis, emphasized: “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."
His remarks underline the company’s long-term focus on scientific advancement and strategic growth.
The official statement also mentioned that the acquisition was unanimously approved by the Boards of Directors of both Merck and Verona Pharma.
The deal is expected to proceed via a scheme of arrangement, in accordance with UK legislation.
Legal Disclaimer:
MENAFN provides the
information “as is” without warranty of any kind. We do not accept
any responsibility or liability for the accuracy, content, images,
videos, licenses, completeness, legality, or reliability of the information
contained in this article. If you have any complaints or copyright
issues related to this article, kindly contact the provider above.
Legal Disclaimer:
EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.
