Latest news with #BelénGarijo
Yahoo
02-07-2025
- Business
- Yahoo
Merck concludes SpringWorks acquisition for $3.4bn
Merck KGaA has concluded the previously announced acquisition of SpringWorks Therapeutics for an enterprise value of €3bn ($3.4bn), after receiving regulatory approvals and fulfilling customary closing conditions. The merger, announced in April 2025, will positively impact Merck's financial position by contributing to revenues immediately, and is anticipated to be accretive to its earnings per share by 2027. Merck will add two SpringWorks' products targeting rare tumours with limited treatment options. Ogsiveo (nirogacestat) is approved by the Food and Drug Administration (FDA) for adults with progressing desmoid tumours requiring systemic treatment. The European Medicines Agency's (EMA) Committee for Medicinal Products for Human Use (CHMP) also recommended its approval in June 2025. Gomekli (mirdametinib) is approved by the FDA for neurofibromatosis type 1 (NF1)-related symptomatic plexiform neurofibromas (PN) in adults and children aged two years and above deemed unsuitable for complete resection. Mirdametinib also received a positive opinion from CHMP in May 2025. Merck executive board chair and CEO Belén Garijo stated: 'The acquisition of SpringWorks illustrates our decisive portfolio approach to further position Merck as a globally diversified science and technology powerhouse. 'This is the largest acquisition we have made for our healthcare business sector in nearly 20 years, marking an exciting new chapter. Furthermore, we remain committed to identifying mergers and acquisitions opportunities across our three business sectors, with a focus on life science, prioritising strategic fit, financial robustness and long-term value creation.' The integration of SpringWorks' portfolio enhances Merck's strategic focus on developing treatments for rare tumours, including commercialisation rights for pimicotinib developed by Abbisko Therapeutics aimed at tenosynovial giant cell tumour patients. As a result of this transaction, trading of SpringWorks shares on Nasdaq has ceased, with shareholders receiving $47 per share in cash from Merck. "Merck concludes SpringWorks acquisition for $3.4bn" was originally created and published by Pharmaceutical Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Sign in to access your portfolio
Yahoo
02-07-2025
- Business
- Yahoo
Merck concludes SpringWorks acquisition for $3.4bn
Merck KGaA has concluded the previously announced acquisition of SpringWorks Therapeutics for an enterprise value of €3bn ($3.4bn), after receiving regulatory approvals and fulfilling customary closing conditions. The merger, announced in April 2025, will positively impact Merck's financial position by contributing to revenues immediately, and is anticipated to be accretive to its earnings per share by 2027. Merck will add two SpringWorks' products targeting rare tumours with limited treatment options. Ogsiveo (nirogacestat) is approved by the Food and Drug Administration (FDA) for adults with progressing desmoid tumours requiring systemic treatment. The European Medicines Agency's (EMA) Committee for Medicinal Products for Human Use (CHMP) also recommended its approval in June 2025. Gomekli (mirdametinib) is approved by the FDA for neurofibromatosis type 1 (NF1)-related symptomatic plexiform neurofibromas (PN) in adults and children aged two years and above deemed unsuitable for complete resection. Mirdametinib also received a positive opinion from CHMP in May 2025. Merck executive board chair and CEO Belén Garijo stated: 'The acquisition of SpringWorks illustrates our decisive portfolio approach to further position Merck as a globally diversified science and technology powerhouse. 'This is the largest acquisition we have made for our healthcare business sector in nearly 20 years, marking an exciting new chapter. Furthermore, we remain committed to identifying mergers and acquisitions opportunities across our three business sectors, with a focus on life science, prioritising strategic fit, financial robustness and long-term value creation.' The integration of SpringWorks' portfolio enhances Merck's strategic focus on developing treatments for rare tumours, including commercialisation rights for pimicotinib developed by Abbisko Therapeutics aimed at tenosynovial giant cell tumour patients. As a result of this transaction, trading of SpringWorks shares on Nasdaq has ceased, with shareholders receiving $47 per share in cash from Merck. "Merck concludes SpringWorks acquisition for $3.4bn" was originally created and published by Pharmaceutical Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
Yahoo
02-07-2025
- Business
- Yahoo
German pharma giant Merck takes over US cancer specialist
German pharmaceutical giant Merck has completed a €3 billion ($3.5 billion) takeover of US biopharmaceutical company Springworks Therapeutics, the firm confirmed on Tuesday. With the acquisition, Merck intends to build a business around the treatment of rare tumours, where it sees a therapeutic gap. "Many of those affected are still young and face a lengthy treatment path with an uncertain outcome and only limited treatment options," said Danny Bar-Zohar, head of Merck's pharmaceuticals division. Springworks already has a drug approved in the US for the treatment of progressive soft tissue tumours and for a disease with benign tumours on the skin or nerves. Both drugs could soon also be given the green light in the EU. The deal is the largest for Merck's pharmaceutical unit in nearly 20 years. Merck chief executive Belén Garijo described the acquisition as "pioneering." Garijo told dpa that both Springworks therapies could become blockbuster drugs in the future, meaning that each could generate sales of at least $1 billion per year for Merck. The acquisition of Springworks is a "transformative step," the manager explained. It will allow Merck to expand its business in the US, focus more on rare diseases and accelerate growth. At the same time, Garijo did not rule out further acquisitions, above all in the business with products for pharmaceutical research and drug manufacturing. Merck's pharmaceuticals division has recently shown solid growth. However, the group is under pressure to bring new drugs onto the market. Several promising drugs that were supposed to bring billions into Merck's coffers have failed in clinical trials. The acquisition of Springworks, the largest in the pharma division since the purchase of the Swiss group Serono in 2007 for €10.3 billion, is expected to directly increase Merck's sales. Merck's last major acquisition was the US semiconductor supplier Versum Materials in 2019, worth around €5.8 billion. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Business Wire
01-07-2025
- Business
- Business Wire
Merck KGaA, Darmstadt, Germany Completes Acquisition of SpringWorks Therapeutics to Accelerate Sustainable Growth of its Healthcare Business
DARMSTADT, Germany--(BUSINESS WIRE)--Merck KGaA, Darmstadt, Germany, a leading science and technology company, today announced that it has closed the acquisition of SpringWorks Therapeutics, Inc., for an enterprise value of $3.4 billion (approximately €3 billion) *, following regulatory clearances and the fulfillment of other customary closing conditions. The definitive agreement between Merck KGaA, Darmstadt, Germany and SpringWorks, based in Stamford, Connecticut, was announced on 28 April, 2025. It represents one of the biggest M&A deals in the global biopharma sector so far in 2025. The business combination will immediately contribute to Merck KGaA, Darmstadt, Germany's revenues and is expected to be accretive to the company's earnings per share pre (EPS pre) by 2027. 'Today, we officially welcome SpringWorks to Merck KGaA, Darmstadt, Germany. The acquisition of SpringWorks illustrates our decisive portfolio approach to further position Merck KGaA, Darmstadt, Germany as a globally diversified science and technology powerhouse,' said Belén Garijo, Chair of the Executive Board and CEO of Merck KGaA, Darmstadt, Germany. 'This is the largest acquisition we have made for our Healthcare business sector in nearly 20 years, marking an exciting new chapter for Healthcare. Furthermore, we remain committed to identifying M&A opportunities across our three business sectors, with a focus on Life Science, prioritizing strategic fit, financial robustness, and long-term value creation.' 'This acquisition is a significant step forward in bringing innovation to patients living with rare and often debilitating tumors—many of whom are young and facing a long, uncertain journey with limited treatment options,' said Danny Bar-Zohar, CEO of Healthcare and member of the Executive Board at Merck KGaA, Darmstadt, Germany. 'By combining our global reach with SpringWorks' expertise, we are expanding access to life-changing therapies for patients around the world. At the same time, this move strengthens our foundation for further expansion in rare tumors and adjacent disease areas. I'd like to warmly welcome the SpringWorks team to Merck KGaA, Darmstadt, Germany.' SpringWorks' portfolio features two highly innovative products for the treatment of rare tumors in areas of high unmet need where limited treatment options exist. U.S. Food and Drug Administration (FDA)-approved, OGSIVEO ® (nirogacestat) is a first-in-class therapy for the treatment of adult patients with progressing desmoid tumors who require systemic treatment. In June 2025, the European Medicine Agency's (EMA) Committee for Medicinal Products for Human Use (CHMP) adopted a positive opinion recommending the approval of nirogacestat. GOMEKLI ® (mirdametinib) is the first and only FDA-approved therapy for the treatment of adult and pediatric patients 2 years of age and older with neurofibromatosis type 1 (NF1) who have symptomatic plexiform neurofibromas (PN) not amenable to complete resection. In May 2025, the CHMP adopted a positive opinion recommending the approval of mirdametinib. SpringWorks' portfolio complements Merck KGaA, Darmstadt Germany's progress in building a rare tumor business with Merck KGaA, Darmstadt, Germany having worldwide commercialization rights for pimicotinib, an investigational therapy developed by Abbisko Therapeutics Co., Ltd. for patients with tenosynovial giant cell tumor (TGCT). Global regulatory filings for pimicotinib are underway. The joint portfolio will serve a broad range of patients with rare tumors who have high unmet medical needs. Shares in SpringWorks will no longer be traded on the Nasdaq, with Merck KGaA, Darmstadt, Germany now being the sole owner of SpringWorks. SpringWorks shareholders are being paid US$ 47 per share in cash. *Based on SpringWorks' cash balance as of 31 December 2024 About Merck KGaA, Darmstadt, Germany Merck KGaA, Darmstadt, Germany, a leading science and technology company, operates across life science, healthcare and electronics. More than 62,000 employees work to make a positive difference to millions of people's lives every day by creating more joyful and sustainable ways to live. From providing products and services that accelerate drug development and manufacturing as well as discovering unique ways to treat the most challenging diseases to enabling the intelligence of devices – the company is everywhere. In 2024, Merck KGaA, Darmstadt, Germany, generated sales of € 21.2 billion in 65 countries. The company holds the global rights to the name and trademark 'Merck' internationally. The only exceptions are the United States and Canada, where the business sectors of Merck KGaA, Darmstadt, Germany, operate as MilliporeSigma in life science, EMD Serono in healthcare and EMD Electronics in electronics. Since its founding in 1668, scientific exploration and responsible entrepreneurship have been key to the company's technological and scientific advances. To this day, the founding family remains the majority owner of the publicly listed company. All Merck KGaA, Darmstadt, Germany, press releases are distributed by e-mail at the same time they become available on the EMD Group website. In case you are a resident of the USA or Canada, please go to to register online, change your selection or discontinue this service.
Yahoo
29-04-2025
- Business
- Yahoo
Merck KGaA to buy biotech SpringWorks for $3.9B
This story was originally published on BioPharma Dive. To receive daily news and insights, subscribe to our free daily BioPharma Dive newsletter. Merck KGaA has agreed to buy biotechnology company SpringWorks Therapeutics, announcing Monday a $3.9 billion deal after months of negotiations over an acquisition. The German pharmaceutical firm will pay $47 per SpringWorks share, a small premium to the stock's closing price Friday but 17% higher than the $40.28 it closed at on Feb. 7, the last trading day before reports emerged of the companies' discussions. SpringWorks has developed two drugs that are approved in the U.S. to treat rare tumors. Ogsiveo is cleared for adults with desmoid tumors, while Gomekli won the Food and Drug Administration's OK in February for adults and children with neurofibromatosis type 1 who experience symptoms from a type of benign tumor. Merck KGaA's proposed acquisition of SpringWorks is the first biotech buyout worth more than $1 billion to be announced since mid-January, when Johnson & Johnson agreed to purchase Intra-Cellular Therapies for $14.6 billion. The deals in between have been smaller and more opportunistic, reflecting a negotiating environment that's been frozen by uncertainty over tariffs and a gyrating stock market. Some of that turmoil may have played a role in drawing out discussions between German Merck and SpringWorks, which in February confirmed the two companies were in 'advanced talks.' While sizable in dollar terms, the deal that emerged nearly two months later values SpringWorks at a relatively low premium, even after adjusting for the share price run-up that followed reports on the companies' negotiations. Shares in SpringWorks were trading as high as $93.59 in early 2021, when the market for biotech stocks was booming. Merck KGaA, which provides bioprocessing services in addition to developing new drugs, has been hunting for deals as part of a strategy it rolled out last fall. The buyout is 'a major step in our active portfolio strategy' to position the company 'as a globally diversified, innovation and technology powerhouse,' CEO Belén Garijo said in a statement. 'Beyond this planned transaction, we will continue to explore M&A opportunities across our three complementary business sectors.' Once the deal is complete, Merck KGaA expects the addition of SpringWorks to immediately contribute to revenue via sales of the biotech's two approved drugs. The company said it will fund the acquisition via available cash and new debt, while retaining 'the ability to pursue larger transactions.' Merck KGaA also touted the buyout as a way to expand its presence in the U.S. The companies expect the transaction to close this quarter, contingent on their receipt of required regulatory sign-offs.
