Latest news with #SpringWorks
Yahoo
3 days ago
- 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
3 days ago
- 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
4 days ago
- Business
- Yahoo
Merck KGaA, Darmstadt, Germany Completes Acquisition of SpringWorks Therapeutics to Accelerate Sustainable Growth of its Healthcare Business
SpringWorks immediately adds revenue and accelerates mid- to long-term growth for Merck KGaA, Darmstadt, Germany's Healthcare business sector Acquisition marks the formation of a rare tumor business for Merck KGaA, Darmstadt, Germany including SpringWorks portfolio and pimicotinib SpringWorks rare tumor portfolio includes Ogsiveo, a first-in-disease systemic therapy for adults with desmoid tumors and Gomekli a first and only approved therapy for adults and children with NF1-PN Not intended for UK-based media DARMSTADT, Germany, July 01, 2025--(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. View source version on Contacts Media Relations Phone: +49 151 1454-9591 Investor Phone: +49 6151 72-3321 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
4 days ago
- 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
27-05-2025
- Business
- Yahoo
SpringWorks Therapeutics (SWTX) Surged on Acquisition News
Carillon Tower Advisers, an investment management company, released its 'Carillon Eagle Small Cap Growth Fund' first quarter 2025 investor letter. A copy of the letter can be downloaded here. Small-cap stocks experienced a significant drop in Q1, with the Russell 2000 Growth Index (down 11.12%) trailing the Russell 2000 Value Index (down 7.74%). In the Russell 2000 Growth Index, real estate, which increased by 1.76%, outperformed all sectors both absolutely and relatively. The only other sector delivering positive returns was consumer staples, which rose by 0.67%. In addition, please check the fund's top five holdings to know its best picks in 2025. In its first-quarter 2025 investor letter, Carillon Eagle Small Cap Growth Fund highlighted stocks such as SpringWorks Therapeutics, Inc. (NASDAQ:SWTX). Headquartered in Stamford, Connecticut, SpringWorks Therapeutics, Inc. (NASDAQ:SWTX) is a biopharmaceutical company. The one-month return of SpringWorks Therapeutics, Inc. (NASDAQ:SWTX) was 0.65%, and its shares gained 9.67% of their value over the last 52 weeks. On May 23, 2025, SpringWorks Therapeutics, Inc. (NASDAQ:SWTX) stock closed at $46.48 per share with a market capitalization of $3.5 billion. Carillon Eagle Small Cap Growth Fund stated the following regarding SpringWorks Therapeutics, Inc. (NASDAQ:SWTX) in its Q1 2025 investor letter: "SpringWorks Therapeutics, Inc. (NASDAQ:SWTX) is a commercial-stage biopharmaceutical company that develops treatments for various diseases and cancers. During the first quarter, a major pharmaceutical company announced that it was in talks to acquire SpringWorks. In response, SpringWorks cancelled all meetings and its earnings call, reflecting the significance of the potential deal. Although no agreement has been finalized, the stock performed well last quarter." A closeup of a scientist in a lab coat, mixing two liquids for a compound to treat rare diseases. SpringWorks Therapeutics, Inc. (NASDAQ:SWTX) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 71 hedge fund portfolios held SpringWorks Therapeutics, Inc. (NASDAQ:SWTX) at the end of the first quarter, which was 40 in the previous quarter. While we acknowledge the potential of SpringWorks Therapeutics, Inc. (NASDAQ:SWTX) as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns, and doing so within a shorter timeframe. If you are looking for an AI stock that is as promising as NVIDIA but that trades at less than 5 times its earnings, check out our report about the undervalued AI stock set for massive gains. In another article, we covered SpringWorks Therapeutics, Inc. (NASDAQ:SWTX) and shared the list of best immunology stocks to buy. In addition, please check out our hedge fund investor letters Q1 2025 page for more investor letters from hedge funds and other leading investors. READ NEXT: Michael Burry Is Selling These Stocks and A New Dawn Is Coming to US Stocks. Disclosure: None. This article is originally published at Insider Monkey. Sign in to access your portfolio
