Overview

• Merck has agreed to acquire Springworks Therapeutics for €3 billion, or $47 per share, pending shareholder and regulatory approval by the second half of 2025.
• Merck CEO Belén Garijo described the acquisition as pivotal for sharpening the company's focus on rare tumors and accelerating its growth in the healthcare sector.
• Springworks, spun off from Pfizer in 2017, specializes in therapies for rare tumors and blood cancers, with one FDA-approved drug for advanced soft tissue tumors and potential EU approval on the horizon.
• The acquisition comes as Merck faces pressure to replenish its pipeline following several late-stage clinical trial failures in recent years.
• This marks Merck's largest healthcare deal in years, following its €5.8 billion Versum Materials acquisition in 2019 and €13 billion Sigma-Aldrich purchase in 2015.