Latest news with #RobertDavis
Yahoo
10-07-2025
- Business
- Yahoo
Verona Pharma (VRNA) Skyrockets 20.6% on $10-Billion Merger Deal with Merck
Verona Pharma plc (NASDAQ:VRNA) is one of the . Verona Pharma surged by 20.62 percent on Wednesday to end at $104.77 per share following news that it was being acquired by US-based pharmaceutical company Merck for $10 billion. In a statement, Merck said that it entered into a definitive agreement with Verona Pharma plc (NASDAQ:VRNA), under which the former, through its subsidiary, will acquire the company's American Depositary Shares at a price of $107 apiece. '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,' said Merck Chairman and CEO Robert Davis. For his part, Verona Pharma plc (NASDAQ:VRNA) President and CEO David Zaccardelli said that the agreement 'is the culmination of years of focus and determination by the Verona Pharma team advancing Ohtuvayre, the first novel inhaled mechanism for the maintenance treatment of COPD in two decades.' A patient in a clinic, taking a medication dose from a nebulizer to treat a respiratory disease. 'Since launching Ohtuvayre in August 2024, we have seen rapid and accelerating uptake in the US. We believe Merck's commercial footprint and industry-leading clinical capabilities will help accelerate the potential of Ohtuvayre to reach more patients living with COPD. This agreement will enable the strong launch trajectory of this important medicine and provide value to Verona Pharma shareholders,' he noted. While we acknowledge the potential of VRNA as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an extremely cheap AI stock that is also a major beneficiary of Trump tariffs and onshoring, see our free report on the . READ NEXT: 30 Stocks That Should Double in 3 Years and 11 Hidden AI Stocks to Buy Right Now. Disclosure: None. This article is originally published at Insider Monkey. Sign in to access your portfolio
Mint
09-07-2025
- Business
- Mint
Merck to buy UK's Verona Pharma for $10 billion in bid to diversify beyond cancer treatment
US drugmaker Merck said on Wednesday it will buy UK-based Verona Pharma for about $10 billion. The acquisition will strengthen Merck's respiratory treatments as part of efforts to reduce dependence on its blockbuster cancer treatment. Keytruda, the world's top-selling drug with nearly $30 billion in revenue last year, is nearing key patent expirations from 2028, and Merck has doubled down on efforts to reshape its portfolio. The deal gives the US drugmaker control of Ohtuvayre, a newly approved treatment for chronic obstructive pulmonary disease, commonly called "smoker's lung". In 2024, the drug has generated sales of $42.3 million. 'Ohtuvayre complements and expands our pipeline and portfolio of treatments for cardiopulmonary diseases while delivering near- and long-term growth as well as value for shareholders," Merck & Co. Inc. Chairman and CEO Robert Davis said in a statement. US regulators approved the inhaled medication more than a year ago to treat chronic obstructive pulmonary disease, or COPD, in adults. Verona CEO David Zaccardelli said that Merck's commercial reach can help Ohtuvayre reach more COPD patients. According to the National Institutes of Health, COPD is a progressive disease that can cause shortness of breath, coughing and other problems that make it hard to breathe. It is caused by damage to the airways or other parts of the lung and affects more than 14 million adults in the United States. The acquisition is Rahway, New Jersey-based Merck's first of the year and its largest since its $10.8 billion buyout of Prometheus Biosciences in 2023. The deal has been approved by the boards of both the pharma companies and is expected to close in the fourth quarter. But it still needs Verona Pharma shareholder approval and sanction by the High Court of Justice of England and Wales. As per the deal, Merck will pay $107 per American depository share for Verona, a premium of 23% to the UK company's last close on the Nasdaq.
09-07-2025
- Business
Merck spends $10 billion for Verona, gaining access to its COPD medication
Pharmaceutical giant Merck is buying Verona Pharma, a company that focuses on respiratory diseases, in an approximately $10 billion deal. With the acquisition, Merck gets access to Verona Pharma's chronic obstructive pulmonary disease medication Ohtuvayre. The Food and Drug Administration approved Ohtuvayre in June 2024 for the maintenance treatment of COPD in adults. 'Ohtuvayre complements and expands our pipeline and portfolio of treatments for cardio-pulmonary diseases while delivering near- and long-term growth as well as value for shareholders," Merck Chairman and CEO Robert Davis said in a statement. "We believe Merck's commercial footprint and industry-leading clinical capabilities will help accelerate the potential of Ohtuvayre to reach more patients living with COPD," Verona Pharma President and CEO David Zaccardelli said. The deal, which was approved by the boards of both companies, is expected to close in the fourth quarter. It still needs approval of Verona Pharma shareholders and sanction by the High Court of Justice of England and Wales.
Yahoo
09-07-2025
- Business
- Yahoo
Verona Phama Stock Soars to All-Time High as Merck Buys Firm for $10B
Merck is paying about $10 billion for Verona Pharma, expanding its respiratory disease drug portfolio. The acquisition values Verona at $107 per U.S.-listed share, 23% above its closing price yesterday. The purchase gives Merck Verona's Ohtuvayre inhaler to treat COPD.U.S.-listed shares of Verona Pharma (VRNA) soared to an all-time high Wednesday after Merck (MRK) agreed to pay about $10 billion for the British biopharmaceutical firm to boost its reach into respiratory disease treatments. Merck said the deal is valued at $107 per ADS, a 23% premium to Verona's closing price yesterday. The acquisition gives Merck Verona's Ohtuvayre inhaler for patients with chronic obstructive pulmonary disease (COPD). Ohtuvayre is Verona's first commercial product, and the company reported it had sales of $42.3 million in 2024. Merck noted that Ohtuvayre is currently also being tested to treat non-cystic fibrosis bronchiectasis, a chronic lung condition that damages airways in the lungs. Merck CEO Robert Davis explained that the addition of Verona "complements and expands our pipeline and portfolio of treatments for cardio-pulmonary diseases while delivering near- and long-term growth as well as value for shareholders." The transaction is expected to be completed in the fourth quarter. The news sent U.S.-listed shares of Verona Pharma surging 21% to a record $104.92. Shares of Merck advanced 2% but are down 16% year-to-date. Read the original article on Investopedia 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
The Hill
09-07-2025
- Business
- The Hill
Merck spends $10 billion for Verona, gaining access to its COPD medication
Pharmaceutical giant Merck is buying Verona Pharma, a company that focuses on respiratory diseases, in an approximately $10 billion deal. The deal gives Merck access to Verona Pharma's new chronic obstructive pulmonary disease medication Ohtuvayre. U.S. regulators approved the inhaled medication more than a year ago to treat chronic obstructive pulmonary disease, or COPD, in adults. 'Ohtuvayre complements and expands our pipeline and portfolio of treatments for cardiopulmonary diseases while delivering near- and long-term growth as well as value for shareholders,' Merck & Co. Inc. Chairman and CEO Robert Davis said in a statement. Verona CEO David Zaccardelli added that Merck's commercial reach can help Ohtuvayre reach more COPD patients. COPD is a progressive disease that can cause shortness of breath, coughing and other problems that make it hard to breathe, according to the National Institutes of Health. It is caused by damage to the airways or other parts of the lung and affects more than 14 million adults in the United States. Ohtuvayre was launched last August as the first commercial product for London-based Verona Pharma. The drug also is being studied as a possible treatment for another chronic respiratory problem that gets worse over time: non-cystic fibrosis bronchiectasis. Merck plans to pay $107 for each Verona Pharma American Depository Share, which represents eight of the company's ordinary shares. The deal announced Wednesday has been approved by the boards of both companies and is expected to close in the fourth quarter. But it still needs Verona Pharma shareholder approval and sanction by the High Court of Justice of England and Wales. Shares of Rahway, New Jersey-based Merck climbed 25 cents to $81.63 before markets opened Wednesday.
