US pharmaceutical company Merck & Co Inc (NYSE:MRK), known as MSD outside the US and Canada, announced on Tuesday that it has completed the acquisition of Verona Pharma plc (Nasdaq:VRNA).
Verona is now a wholly owned subsidiary of Merck its American Depositary Shares will no longer be listed or traded on the Nasdaq Global Market.
The transaction, valued at approximately USD10bn, involved a purchase price of USD107 per ADS, each representing eight ordinary Verona Pharma shares.
This acquisition adds Ohtuvayre (ensifentrine) to Merck's cardio-pulmonary portfolio. Ohtuvayre, approved by the US FDA in June 2024, is a first-in-class inhaled dual inhibitor of phosphodiesterase 3 and 4 for the maintenance treatment of chronic obstructive pulmonary disease (COPD) in adults. It combines bronchodilator and non-steroidal anti-inflammatory effects and is also being evaluated for non-cystic fibrosis bronchiectasis.
Merck said that the acquisition will result in the capitalisation of most of the purchase price as an intangible asset for Ohtuvayre (which will be amortised as a GAAP-only charge over the life of the product). The transaction is expected to negatively impact non-GAAP EPS by approximately USD0.16 in the first 12 months, representing costs associated with financing the transaction partially offset by Ohtuvayre performance.
Mabwell's clinical trial application for 9MW5211 cleared by US FDA
Specialised Therapeutics' chronic graft-versus-host disease therapy approved in Australia
GSK secures US and EU fast-track designations for efimosfermin in MASH
AstraZeneca reports third positive Phase III trial for tozorakimab in COPD
GSK strengthens pulmonary hypertension pipeline with USD950m acquisition of 35Pharma
Mestag Therapeutics to present targeted LTBR agonist MST-0312 at AACR Annual Meeting
Trellus Health renews licensing agreement with Pfizer
EU approves Sanofi and Regeneron's Dupixent for young children with chronic spontaneous urticaria
GSK secures China approval for Exdensur to treat nasal polyp condition
Insmed reports Phase 2b study of brensocatib did not meet efficacy endpoints
Alloy Therapeutics and Biogen expand partnership with multi-target antisense collaboration
Innovent and Ollin Biosciences report IBI324 study data in wAMD and DME